Applicability Date definition
Examples of Applicability Date in a sentence
With respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan prior to the Applicability Date, Insurance Agency and Financial Institution understand that additional purchase payments made to the Covered Annuity and advice provided with respect to the Covered Annuity may be subject to the DOL Fiduciary Rule.
Insurance Agency and Financial Institution further acknowledge and agree that Insurance Company shall not be required, nor shall it have any responsibility, to determine if a transaction effected under a Covered Annuity on or after the Applicability Date was recommended by Insurance Agency or its subordinate agents or to otherwise provide any data or information regarding any Covered Annuities or any transactions therein.
Insurance Agency and Financial Institution acknowledge and agree that Insurance Company shall not be required to, nor shall it, provide any investment advice, as defined under the DOL Fiduciary Rule, on or after the Applicability Date with respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan for which Insurance Agency is the firm-of-record or for which the Financial Institution is a fiduciary under the DOL Fiduciary Rule.
It is understood and agreed that, unless Insurance Agency instructs Insurance Company otherwise in writing, Insurance Company will pay a commission on any purchase payment made after the Applicability Date to a Covered Contract issued before the Applicability Date, and will continue to pay any applicable trail commission after the Applicability Date on a Covered Annuity issued before the Applicability Date.
The Agent acknowledges and agrees that the Company shall not be required to, nor shall it, provide any investment advice, as defined under the DOL Fiduciary Rule, on or after the Applicability Date with respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan for which the Agent is the agent-of-record or a fiduciary under the DOL Fiduciary Rule.
It is understood and agreed that, unless the Agent instructs the Company otherwise in writing, the Company will pay a commission on any purchase payment made after the Applicability Date to a Covered Contract issued before the Applicability Date, and will continue to pay any applicable trail commission after the Applicability Date on a Covered Annuity issued before the Applicability Date.
Broker-Dealer and Agency acknowledge and agree that neither the Company nor LFD shall be required to, nor shall they, provide any investment advice, as defined in the DOL Fiduciary Rule, on or after the Applicability Date, with respect to any Policy acquired, held by, or funded with assets of a Covered Account pursuant to this Agreement and/or for which Broker-Dealer or Agency is the firm-of-record.
The Agent further acknowledges and agrees that the Company shall not be required, nor shall it have any responsibility, to determine if a transaction effected under a Covered Annuity on or after the Applicability Date was recommended by the Agent or subordinate agents or to otherwise provide any data or information regarding any Covered Annuities or any transactions therein.
With respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan prior to the Applicability Date, the Agent understands that additional purchase payments made to the Covered Annuity and advice provided with respect to the Covered Annuity may be subject to the DOL Fiduciary Rule.
Applicability Date: For dates of applicability, see §31.3121(a)(5)-2T(b).