FUNCTIONS AND SERVICES. Completed applications for the Contracts shall be transmitted directly to the Company whereupon they shall be reviewed by an agent for the Distributor and if approved by such agent, the applications shall proceed to be processed by the Company for acceptance or rejection in accordance with rules and procedures established by the Company. Initial and subsequent premium payments under the Contracts shall be made payable to the Company and shall be forwarded by the Distributor to the Company promptly after receipt by the Distributor, less any amounts the parties may agree that the Distributor (or other broker-dealers with whom the Distributor has a selling agreement) may retain.
Appears in 8 contracts
Samples: Assignment and Novation Agreement (Union Security Insurance Co Variable Account C), Assignment and Novation Agreement (Variable Account D of Union Security Insurance Co), Assignment and Novation Agreement (Separate Account a of Union Security Life Ins Co of New York)
