Distribution Responsibility for the Variable Contracts Clause Samples

Distribution Responsibility for the Variable Contracts. Sec. 1.1 Equitable and Equitable Variable authorize Equico to act, and Equico agrees to serve, as broker-dealer in connection with the distribution of their respective Variable Contracts to the extent provided in this Agreement. Equico shall be fully responsible for carrying out all compliance and supervisory obligations in connection with the distribution of the Variable Contracts, as required by the NASD Rules and by federal and any applicable state or foreign securities laws. Equitable shall be fully responsible for compensating the Agents for their sales of Variable Contracts, as provided in Section 1.4.