Common use of Premium Remittance Clause in Contracts

Premium Remittance. Any premium payment collected or received must be: • remitted immediately in full to either the Carriers or the General Agent; • payable to the Carrier from whom a Health Plan is purchased. No premium payment may be made payable to the Producing Agent. All such payments are the property of the Carriers and shall be held by the Producing Agent as trust funds. Demand is hereby made on the Producing Agent for the payment of all premium payments received and such demand is hereby accepted by the Producing Agent in lieu of any further demand.

Premium Remittance. Any premium payment collected or received must be: • remitted immediately in full to either the Carriers or the General AgentPrimary Agent or Broker; • payable to the Carrier from whom a Health Plan is purchased. No premium payment may be made payable to the Producing Agent. All .All such payments are the property of the Carriers and shall be held by the Producing Agent as trust funds. Demand is hereby made on the Producing Agent for the payment of all premium payments received and such demand is hereby accepted by the Producing Agent in lieu of any further demand.