COMMISSION SHARING. Broker-Dealer and Insurance Agency represent that no commissions or other compensation will be paid for services rendered in soliciting the purchase of the contracts by any person or entity not duly registered or licensed by the required authorities and appointed by Insurer to sell the Contract in the state in which such solicitation occurred; provided however, that this provision shall not prohibit the payment of compensation of the surviving spouse or other beneficiary of a person entitled to receive such compensation pursuant to a bona fide contract calling for such payment.
Appears in 3 contracts
Sources: Sales Agreement (Equitrust Life Variable Account), Sales Agreement (American Equity Life Variable Account), Sales Agreement (Equitrust Life Variable Account Ii)