Internal Exchanges Clause Samples

Internal Exchanges. Commissions on the exchange of any SECURITY LIFE ------------------ policy for Strategic Advantage will be paid in accordance with the exchange procedures in effect at SECURITY LIFE on the date the exchange is completed. The commission rates and/or target premiums may be adjusted in accordance with the rules in effect at the time of the exchange. If the Representative responsible for the exchange is not the producer of the original policy, and the original producer is still active with SECURITY LIFE, no commission will be payable to the Representative or the SELLING BROKER-DEALER.

Internal Exchanges. Consumers can make internal exchanges of Use Periods with other Consumers of the Club, or Consumers in other vacation clubs or Projects established by the Club. Any internal exchange will take place in accordance with the procedures established by the Club and the exchange company. The person or entity designated by the Club to coordinate the internal exchange programs will notify Consumers in writing of such procedures.

Internal Exchanges. Company reserves the right to reduce or eliminate commissions that would otherwise result from the internal exchange of Minnesota Life contracts already in force.

Internal Exchanges. No commission will be earned on the initial exchange of any PM policy for Pacific Select Choice. All subsequent premium payments will receive commission calculated at 30% of commission rates shown in the compensation schedule in effect at the time of policy issue.