Selling Group Member or “Intermediary”) and, together with Distributor, the “Parties”);

Selling Group Member means, in respect of a distribution, a person or company whose interest in the distribution is limited to receiving the usual and customary distributor’s or seller’s commission payable by an underwriter or issuer.

Selling Group Member shall fully cooperate in any insurance or securities regulatory examination, investigation, or proceeding or any judicial proceeding with respect to AGL, Distributor, Selling Group Member, and Associated Agency and their respective affiliates, agents and representatives to the extent that such examination, investigation, or proceeding arises in connection with the Contracts. Selling Group Member shall immediately notify Distributor if its broker-dealer registration or the registration of any of its Sales Persons is revoked, suspended, or terminated.

Examples of Selling Group Member in a sentence

We hereby express our interest in participating in the Offer as a Selling Group Member.
Payment to a Selling Group Member or Soliciting Dealer will be made by the Dealer Manager directly to such Selling Group Member or Soliciting Dealer by check to an address identified by such broker-dealer.
In addition, the Selling Group Member represents that it has established and implemented a program (“OFAC Program”) for compliance with OFAC and will continue to maintain its OFAC Program during the term of this Agreement.
Capitalized terms used but not defined herein shall have the respective meanings set forth in the Selling Group Member Agreement.
The Selling Group Member hereby represents that it is currently in compliance with all AML rules and all OFAC requirements, specifically including, but not limited to, the Customer Identification Program requirements under Section 326 of the USA PATRIOT Act.

More Definitions of Selling Group Member

Selling Group Member means a member of the Selling Group other than the Agent;

Selling Group Member shall fully cooperate in any insurance or securities regulatory examination, investigation, or proceeding or any judicial proceeding with respect to USL, AGSI, Selling Group Member and the Associated Agency and their respective affiliates, agents and representatives to the extent that such examination, investigation, or proceeding arises in connection with the Contracts. Selling Group Member shall immediately notify AGSI if its broker-dealer registration or the registration of any of its Sales Persons is revoked, suspended or terminated. The Sales Persons shall be the only parties involved in the solicitation, negotiation or procurement of the Contracts. All correspondence relating to the sale of the Contracts will be between USL, the Associated Agency, the Sales Persons and the prospective purchaser. The Sales Persons are authorized to collect the first purchase payment or premium (collectively "Premiums") on the Contracts. The Sales Persons will in turn remit the entire Premiums to USL. The Sales Persons shall take applications for the Contracts only on preprinted applications supplied to them and/or the Associated Agency by USL. All completed applications and supporting documents are the sole property of USL and shall be retained by or on behalf of USL in accordance with New York Insurance Regulation 152.

Selling Group Member means a person whose sole interest in the distribution is to receive the usual commission from the underwriter or the issuer;

Selling Group Member is registered with the SEC as a broker-dealer under the Securities Exchange Act of 1934 ("1934 Act") and under any appropriate regulatory requirements of state law and is a member in good standing of the Financial Industry Regulatory Authority ("FINRA"), unless Selling Group Member is exempt from the broker-dealer registration requirements of the 1934 Act. Selling Group Member has FINRA registered representatives who will service the Contracts. The Associated Agency is a licensed insurance agency and will be appointed by AGL as an agent of AGL as required by the appropriate state Insurance Department. The relationship between the Associated Agency and AGL is that of an independent contractor. The FINRA registered representatives affiliated with Selling Group Member are also appropriately licensed insurance agents of the Associated Agency and upon approval by AGL, will be appointed by AGL as agents of AGL with the appropriate Insurance Department ("Sales Persons"). The relationship between the Sales Persons and Selling Group Member and the Sales Persons and AGL is that of independent contractor. AGESC hereby appoints Selling Group Member and the Sales Persons to service the Contracts. The appointment by AGESC of Selling Group Member and the Sales Persons and the appointment by AGL of the Associated Agency and the Sales Persons for the servicing of these Contracts is not to be deemed exclusive in any manner and only extends to servicing of the Contracts.

Selling Group Member shall fully cooperate in any insurance or securities regulatory examination, investigation, or proceeding or any judicial proceeding with respect to AGL, AGESC, Selling Group Member and Associated Agency and their respective affiliates, agents and representatives to the extent that such examination, investigation, or proceeding arises in connection with the Contracts. Selling Group Member shall immediately notify AGESC if its broker-dealer registration or the registration of any of its Sales Persons is revoked, suspended or terminated. Selling Group Member shall also immediately notify AGL if its broker-dealer registration is revoked, suspended or terminated.

Selling Group Member is registered with the SEC as a broker-dealer under the Securities Exchange Act of 1934 ("1934 Act") and under any appropriate regulatory requirements of state law and is a member in good standing of the National Association of Securities Dealers, Inc. ("NASD"), unless Selling Group Member is exempt from the broker-dealer registration requirements of the 1934 Act. Selling Group Member has NASD registered representatives who will distribute the Contracts. The Associated Agency is a New York licensed insurance agency and will be appointed by USL as an agent of USL with the New York Insurance Department. The relationship between the Associated Agency and USL is that of an independent contractor. The NASD registered representatives affiliated with Selling Group Member are also New York licensed insurance agents of the Associated Agency and will be appointed by USL as agents of USL with the New York Insurance Department ("Sales Persons"). The relationship between the Sales Persons and Selling Group Member and the Sales Persons and USL is that of independent contractor. AGSI hereby appoints Selling Group Member and the Sales Persons to solicit and procure applications for the Contracts. The appointment by AGSI of Selling Group Member and the Sales Persons and the appointment by USL of the Associated Agency and the Sales Persons for the sale of these Contracts is not to be deemed exclusive in any manner and only extends to New York sales of the Contracts.