Common use of Laundering and Know Your Customer Compliance Clause in Contracts

Laundering and Know Your Customer Compliance. The parties acknowledge that they are financial institutions subject to the USA Patriot Act of2001 and the Bank Secrecy Act (collectively, the "AML Acts"), which require, among other things, that financial institutions adopt compliance programs to guard against money laundering. The parties further acknowledge that they are in compliance and will continue to comply with the AML Acts and the applicable rules and regulations as they now exist and as they may be amended in the future. Princor represents and warrants that, in compliance with applicable laws, regulations and rules, (i) it has adopted a customer identification program consistent with the applicable rules and further covenants and agrees that it will verify the identity of each of its customers who purchases a Contract through Princor's registered representatives and provide for screening all new and existing Princor customers against the Office of Foreign Asset Control list and any other government list that is or becomes required under the law, (ii) it will provide ongoing AML training to Princor registered representatives and associated persons, (iii) it will adopt all necessary internal policies, procedures and controls to ensure compliance with the AML Acts, and all applicable rules and regulations, and (iv) Princor's AML program will be audited as required and steps will be taken to address any deficiencies identified. Princor and Principal further acknowledge that they have current 314(b) notices on file with FinCEN in accordance with section 314(b) of the USA Patriot Act and agree to refile such notices annually (or as otherwise required to remain current in accordance with applicable regulations) during the term of this Agreement.

Laundering and Know Your Customer Compliance. The parties acknowledge that they are financial institutions subject to the USA Patriot Act of2001 of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”), which require, among other things, that financial institutions adopt compliance programs to guard against money laundering. The parties Princor further acknowledge acknowledges that they are in compliance and will continue to comply with the AML Acts and the applicable rules and rules, regulations of the SEC, FINRA, or any other self-regulatory organizations, as they now exist and as they may be amended in the future. Princor represents and warrants that, in compliance with applicable laws, regulations and rules, (i) it has adopted a customer identification program consistent with the applicable rules and further covenants and agrees that it will verify the identity of each of its customers who purchases a Contract through Princor's registered representatives Registered Representatives and provide for screening all new and existing Princor customers against the Office of Foreign Asset Control list and any other government list that is or becomes required under the law, (ii) it will provide ongoing AML training to Princor registered representatives and associated personsemployee training, (iii) it will adopt all necessary internal policies, procedures and controls to ensure insure compliance with the AML Acts, and all applicable rules rules, regulations and regulationsregulatory guidance, and (iv) Princor's the AML program will be audited as required and steps will be taken to address any deficiencies identified. Princor and Principal hereto further acknowledge acknowledges that they have it has a current 314(b) notices notice on file with FinCEN in accordance with section 314(b) of the USA Patriot Act and agree agrees to refile such notices notice annually (or as otherwise required to remain current in accordance with applicable regulations) during the term of this Agreement.

Laundering and Know Your Customer Compliance. The parties acknowledge that they are financial institutions subject to the USA Patriot Act of2001 of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”), which require, among other things, that financial institutions adopt compliance programs to guard against money laundering. The parties Princor further acknowledge acknowledges that they are in compliance and will continue to comply with the AML Acts and the applicable rules and rules, regulations of the SEC, FINRA, or any other self-regulatory organizations, as they now exist and as they may be amended in the future. Princor represents and warrants that, in compliance with applicable laws, regulations and rules, (i) it has adopted a customer identification program consistent with the applicable rules and further covenants and agrees that it will verify the identity of each of its customers who purchases a Contract through Princor's registered representatives ’s Registered Representatives and provide for screening all new and existing Princor customers against the Office of Foreign Asset Control list and any other government list that is or becomes required under the law, (ii) it will provide ongoing AML training to Princor registered representatives and associated personsemployee training, (iii) it will adopt all necessary internal policies, procedures and controls to ensure insure compliance with the AML Acts, and all applicable rules rules, regulations and regulationsregulatory guidance, and (iv) Princor's the AML program will be audited as required and steps will be taken to address any deficiencies identified. Princor and Principal hereto further acknowledge acknowledges that they have it has a current 314(b) notices notice on file with FinCEN in accordance with section 314(b) of the USA Patriot Act and agree agrees to refile such notices notice annually (or as otherwise required to remain current in accordance with applicable regulations) during the term of this Agreement.

Laundering and Know Your Customer Compliance. The parties acknowledge that they are financial institutions subject to the USA Patriot Act of2001 of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”), which require, among other things, that financial institutions adopt compliance programs to guard against money laundering. The parties further acknowledge that they are in compliance and will continue to comply with the AML Acts and the applicable rules and regulations as they now exist and as they may be amended in the future. Princor represents and warrants that, in compliance with applicable laws, regulations and rules, (i) it has adopted a customer identification program consistent with the applicable rules and further covenants and agrees that it will verify the identity of each of its customers who purchases a Contract through Princor's ’s registered representatives and provide for screening all new and existing Princor customers against the Office of Foreign Asset Control list and any other government list that is or becomes required under the law, (ii) it will provide ongoing AML training to Princor registered representatives and associated persons, (iii) it will adopt all necessary internal policies, procedures and controls to ensure compliance with the AML Acts, and all applicable rules and regulations, and (iv) Princor's ’s AML program will be audited as required and steps will be taken to address any deficiencies identified. Princor and Principal further acknowledge that they have current 314(b) notices on file with FinCEN in accordance with section 314(b) of the USA Patriot Act and agree to refile such notices annually (or as otherwise required to remain current in accordance with applicable regulations) during the term of this Agreement.