HESCO definition
Examples of HESCO in a sentence
As to the other types of sales materials, HESCO agrees that it will use only sales materials which conform to the requirements of federal and state insurance laws and regulations and which have been filed, where necessary, with the appropriate regulatory authorities.
In the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of its obligations and duties hereunder on the part of HESCO, HESCO shall not be subject to liability under a Policy for any act or omission in the course, or connected with, rendering services hereunder.
HESCO, as principal underwriter for the Policy, will use its best efforts to effect offers and sales of the Policy through broker-dealers that are members of the National Association of Securities Dealers, Inc.
HESCO hereby agrees that it will continue to act as principal underwriter until its successor or successors assume such undertaking.
HESCO agrees that it will utilize the then currently effective prospectus relating to the Unit Trust's Policies in connection with its selling efforts.
HESCO agrees that it or its duly designed agent shall maintain records of the name and address of, and the securities issued by the Unit Trust and held by, every holder of any security issued pursuant to this Agreement, as required by the Section 26(a)(4) of the Investment Company Act of 1940, as amended.
HESCO has previously agreed to act as distributor in connection with offers and sales of the Policy under the terms and conditions set forth in this Distribution Agreement.
The Unit Trust reserves the right at any time to suspend or limit the public offering of the Policies upon 30 days' written notice to HESCO, except where the notice period may be shortened because of legal action taken by any regulatory agency.
HESCO is responsible for compliance with all applicable requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, and the rules and regulations relating to the sales and distribution of the Policy, the need for which arises out of its duties as principal underwriter of said Policy and relating to the creation of the Unit Trust.
HESCO agrees that it or its duly designated agent shall maintain records of the name and address of, and the securities issued by the UIT and held by, every holder of any security issued pursuant to this Agreement, as required by the Section 26(a)(4) of the 1940 Act, as amended.