Common use of Authority and Responsibility Clause in Contracts

Authority and Responsibility. (a) Producer is authorized and responsible in each State to train, use and supervise qualified professional insurance agents and solicitors who are duly life insurance-licensed and appointed by the Insurer to sell the Products ("Subproducers"). To sell Registered Products, Subproducers must also be securities-licensed registered representatives of Broker Dealer and registered and qualified as necessary with the NASD and any appropriate state regulatory authority. Any Agency that sells Registered Products shall be an associated person of Broker Dealer under the Exchange Act. Broker Dealer agrees that any Agency or Subproducer whom the SEC, NASD or any self-regulatory organization ("SRO") bars or suspends from association with Broker Dealer or any other broker dealer will be terminated or suspended from all activities related to Registered Products.

Authority and Responsibility. (a) Producer is authorized and responsible in each State to train, use and supervise qualified professional insurance agents and solicitors who are duly life insurance-licensed and appointed by the Insurer to sell the Products ("“Subproducers"”). To sell Registered Products, Subproducers must also be securities-licensed registered representatives of Broker Dealer and registered and qualified as necessary with the NASD and any appropriate state regulatory authority. Any Agency that sells Registered Products shall be an associated person of Broker Dealer under the Exchange Act. Broker Dealer agrees that any Agency or Subproducer whom the SEC, NASD or any self-regulatory organization ("“SRO"”) bars or suspends from association with Broker Dealer or any other broker dealer will be terminated or suspended from all activities related to Registered Products.