Fiduciary Responsibilities. GA shall be responsible for all money collected by GA, GA’s employees and its Other General Agents on behalf of Company and shall remit to Company all payments and collections received for or payable to Company from Other General Agents, applicants, customers, or others no later than 15 days after receipt, or within any shorter period required by law. All money tendered as payment shall always be the property of Company and shall be held by GA purely in a fiduciary capacity and not for GA’s own benefit. GA is not authorized to spend, cash or deposit for any purpose any portion of such money.
Appears in 11 contracts
Samples: General Agent Agreement, General Agent Agreement, General Agent Agreement
