Duties of Broker Dealer. A. REGISTRATION UNDER THE EXCHANGE ACT BROKER/DEALER is registered as a broker-dealer under the provisions of the Exchange Act and will secure whatever authorizations, licenses, qualifications, permits and the like as may be necessary to perform its obligations under this agreement in those states requested by INSURANCE COMPANY.
Duties of Broker Dealer. A. REGISTRATION UNDER THE ’34 ACT BROKER/DEALER is registered, and will maintain its registration, as a broker-dealer under the provisions of the ’34 Act and will secure whatever authorizations, licenses, qualifications, permits and the like as may be necessary to perform its obligations under this Agreement in those states requested by INSURANCE COMPANY.
Duties of Broker Dealer. (a) SUPERVISION OF REPRESENTATIVES. Broker/Dealer shall have full responsibility for the training and supervision of all Representatives who are engaged directly or indirectly in the offer or sale of the Variable Contracts, and all such persons shall be subject to the control of Broker/Dealer with respect to such persons' securities-regulated activities in connection with the Variable Contracts. Broker/Dealer will cause the Representatives to be trained in the sale of the Variable Contracts, will cause such Representatives to qualify under applicable federal and state laws to engage in the sale of the Variable Contracts; will cause such Representatives to be registered representatives of Broker/Dealer before such Representatives engage in the solicitation of applications for the Variable Contracts; and will cause such Representatives to limit solicitation of applications for the Variable Contracts to jurisdictions where Insurer has authorized such solicitation. Broker/Dealer shall cause SELLING AGREEMENT -------------------------------------------------------------------------------- such Representatives' qualifications to be certified to the satisfaction of General Distributor and shall notify General Distributor if any Representative ceases to be a registered representative of Broker/Dealer or ceases to maintain the proper licensing required for the sale of the Variable Contracts. All parties shall be liable for their own negligence and misconduct under this paragraph.
Duties of Broker Dealer. A. REGISTRATION UNDER THE '34 ACT BROKER/DEALER shall maintain its registration as a broker-dealer under the provisions of the '34 Act and will secure whatever authorizations, licenses, qualifications, permits and the like as may be necessary to perform its obligations under this agreement in those states requested by INSURANCE COMPANY. B. MEMBERSHIP IN THE NATIONAL ASSOCIATION OF SECURITIES DEALER, INC. BROKER/DEALER shall maintain its membership in the National Association of Securities Dealer, Inc. (NASD). C. RESPONSIBILITY FOR SECURITIES ACTIVITIES BROKER/DEALER shall assume full responsibility for the securities activities of all persons engaged directly or indirectly (within the meaning of Section 3(a)(18) of the '34 Act) in the variable contract operations of INSURANCE COMPANY, including but not limited to training, supervision and control as contemplated under appropriate provisions of the '34 Act, any regulations thereunder, or by the rules of the NASD. To the extent necessary and appropriate, those persons directly or indirectly involved in such variable contract operations shall be registered representatives or registered principals of BROKER/DEALER as appropriate to their activities. D. APPOINTMENT OF REGISTERED PERSONS AND MAINTENANCE OF PERSONNEL RECORDS BROKER/DEALER shall have the authority and responsibility for the appointment and registration of those persons who will be registered representatives and registered principals. BROKER/DEALER shall likewise have the responsibility for maintenance of all the appropriate records of such registered person. E. MAINTENANCE OF NET CAPITAL BROKER/DEALER shall the authority and responsibility for maintenance of appropriate net capital and for limiting aggregate indebtedness as may be required under the provisions of the '34 Act, any regulations thereunder, or by NASD rules. F. REQUIRED REPORTS BROKER/DEALER shall have the responsibility for preparation and submission of any reports or other materials required by any regulatory authority having proper jurisdiction. III DUTIES OF INSURANCE COMPANY A. MAINTENANCE OF ACCOUNTING RECORDS INSURANCE COMPANY shall be responsible for the maintenance of all books and records in connection with the offer and sale of said variable contracts. Such books and records shall be maintained and preserved in conformity with any requirements under the '34 Act, any regulations thereunder, or under NASD rules to the extent that such requirements are applicable to variable c...
Duties of Broker Dealer
