RULES AND LAW Sample Clauses

RULES AND LAW. The AGENCY or AGENT authorized and/or appointed by MGA under this AGREEMENT agree to know and abide by the terms and provisions of this AGREEMENT, which AGREEMENT shall be subject to the provisions of the applicable statutory provisions relative to the AGENCY or AGENT, MGA or CARRIERS (collectively the "Statutes"), the Insurance Code in each state in which the AGENCY or AGENT MGA or CARRIERS do business ("Insurance Code") and the rules and regulations of the Department of Insurance in each state in which the AGENCY or AGENT, MGA or CARRIERS do business ("Insurance Regulations"). In addition, the AGENCY or AGENT authorized and/or appointed pursuant to this AGREEMENT agrees to conduct all business operations on behalf of MGA in compliance with the terms of this AGREEMENT, the CARRIERS’ Underwriting Manuals ("Underwriting Manuals"), any producer policies and procedures manuals (collectively, "Procedures Manuals"), all Producer Bulletins ("Bulletins"), and other instructions provided to the AGENCY or AGENT by MGA or CARRIERS (all documents set forth or referenced in this Section IV A. are sometimes collectively referred to as the "Documents"), which Documents may be unilaterally supplemented or amended from time-­‐to-­‐time by CARRIERS or MGA. It shall be the obligation and responsibility of the principal agent of the AGENCY or the authorized and, where applicable, appointed Agent to supervise the actions of its agents and employees in order to assure that all agents and employees know, abide by, and comply with all terms and provisions of the AGREEMENT, Documents, Statutes, Insurance Code and Insurance Regulations, as they currently exist or as they may be subsequently amended or modified. It shall be the obligation and responsibility of the AGENCY or AGENT to otherwise fulfill all of the functions of the AGENCY or AGENT as required by the AGREEMENT with reference to the obligation of the AGENCY and AGENT.
Sample 1
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Related to RULES AND LAW

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  • Laws, Rules and Regulations You agree to comply with all existing and future operating procedures used by the Bank for processing of transactions. You further agree to comply with, and be bound by, all applicable state or federal laws, rules, regulations, orders, guidelines, operating circulars and pronouncements, affecting checks and drafts, including, but not limited to, all rules and procedural guidelines established by the Board of Governors of the Federal Reserve and the Electronic Check Clearing House Organization ("ECCHO") and any other clearinghouse or other organization in which Bank is a member or to which rules Bank has agreed to be bound. These procedures, rules, and regulations (collectively the "Rules") and laws are incorporated herein by reference. In the event of conflict between the terms of this Agreement and the Rules, the Rules will control.

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