HomeMy WebLinkAbout95-06139
1. AUTHORITY
a) 'You are horoby authorlzod 10 solicIt applicatIons tor
Insurance ,n Ihe Company 01 Ihe Iypes which Ihe
Company IS Issuing and collecl Ilrst premiums Ihereon;
wllh lulllreedom 10 delermlne. wllhln Ihe scope of IhlS
agreemenl. Ihe persons Irom whom 10 sollcll such
busoness and Ihe melhod. lime and place 01 your
performance under Ihll agreement.
b) This agreemenlls not Iranslerable.
2. COMPENSATION
a) For business produced by you Ihe Company will pay
you commissions In accordance with Iha Commission
Agraament Schedules currenlly in force when Ihe policy
Is Issued. Such Schedules are hereby made a part of
Ihls agreement. Commissions for any product 0' the
Company which are not IIsled In Iheee Schedulea will
be quoted on requelt. Commissions are based on
premiums paid to and accepled by the Company.
Payment thereol will be made at such times and In such
manner during each year as Ihe Company may deem
appropriate for the elllclent administration 01 this
agreement.
bl Any compensation due you under Ihls agreement
may be applied by Ihe Company to reduca your In-
debtedness to the Company, If any, regardless of any
claim to or lien on such compensation by a third perty.
Upon termination 01 this agreement each party to It
shall pay lorthwllh sny and all amounts then owed
under this agreement to the other party.
cl To Ihe extent permitted by law, the Company may
discharge Its obligation under this agreement to pay
commlsslona due alter Its termination, by payment 01
the commuted value thereol at any lime aner termlnallon
of Ihll agreement. Such commuled value Ihall be
equivalent to the sum 01 such commissions, calculaled
by Iha Company on the basis 01 mortality, lapse and
Interelt ratel deemed appropriate by It.
3. AMENDMENTS
The Company reaerves the right from lime to time to
change the Schedulel, by nollce to you. The Company
1110 relervel the rlghlto change any other provision of
Ihls Igreement, by 30 days notice to you. No luch
change Ihall allect bUllness produced by you belore
Ihe change takel ellect, unlass Igreed 10 by you In
writing.
4. GENERAL PROVISIONS
al ThIS agreement perta,ns only to bus,ness done In Ihe
lerrltory of Ihe Agency .ndlcated In Ihe caption of Ihls
agreemenl. and 10 business done In Ihe lerritory 01
anolher Agency 01 the Company wllh the conlent 01 the
Manager o' Ihal Agency. An Agency Manager has no
aulhorlly 10 chenge Ihe printed lerms 01 thla agreemenl,
or 10 add anything Ihereto. except wllh Ihe written
coneenl 01 an E.ecutlve Olllcer of Ihe Compeny. Thll
agreemenl conlalna the entire agreement between the
partlea and aupersedes any prior writlen or oral agree-
mentl and dllcusslons, and II cannot be aitered, amend-
ed. or modllied by any oral stalements. agreements,
commllmants. or understandings.
b) 'fou shall be responalble in a IIduclary capacity lor all
premiums collecled by you. and shall remit them lorth-
wllh 10 the Company.
c) 'four authority under Ih,s agreement II IImlled to
such klndl of Inlurance al you are duly IIcenled, and to
Ihe placas where you are licensed, 10 lollclt under
applicable 'ederal and state law.
d) This agreemant Is lubject to luch rulal and regula-
lion I as the Company may deem appropriate to eatablllh
Irom time to lime 'or the elllclent administration 01 thll
agreement: but no luch rule or regulation Ihall reltrlct
your freedom 01 determination Ipeclfled In Section 1 (al
and nothing In this agreement or In any luch rule or
regulallon Ihall be construed to create the relation 01
employee and employer belween you and the Company.
el The Company relervas the right to pay less commll-
slons, or none, on any policy Issued which haa the
ellect 0' replacing another policy prevloully Issued by
Ihe Company.
II Upon demand by the Company, you shall return to it
any commission peld 10 you on a premium which the
Company deemed necessary to re'und.
gIll any commission Is paid In advance it shall become
a debt owed by you to the Compeny If the premium on
which it Is based Is not peld within the time provided by
Ihe policy or allowed by the Compeny, or, II auch
premium Is so paid, II you would not heve been entitled
10 such commlsalon when luch premium II peld.
AgI"' \ C"--J,.- ThiS loreeme"l will'..... .IIeel on the errecllve 0118 mdlcaled In
t1 03 .of, ,f ' J . '10 nrr II' capllon, after it ha' been signed b.,. ','ou and Ihe Agency
Sf'''' Addr..., ~. -- L I ~ ~~ Manaoer and a cop.,. 10 Ilo"ed h.. bee" delivered 10 you. It
/~~~. U,::1I'/ lermmll.1 all pUD' I"IUranCe soUello'" conlflct, belOW.." you
City L . . 1 . '_"'-- rr J ~ and Ina Company. a.capt lor your flgh' 10 componllllon con-
County ~ Iln~:~.~IIO become plvable under Ihe term. of any sue" prior
A LrJ/lJ - ~'V8 carelullv read lhe lor890mo prOYllionl Ind hereby Icee
5'.', ZiP COdl _r~/VII J :t~, IgH'emenl 3 .::l 2
3L/3Sq g,gnedofl _ -VU 19
~~~
5. DEFINITIONS
For the purpose 01 thiS 3greomonl. unloss Ihe conlo"l
Indlcales lllherWlse. tho lollowlI1g lerms mean
a) "BUSiness Produced by You" mltsns pollCIOS actually
Issued by Ihe Company and placed In lull force and
ellecl upon application secured by you on which Ihe
11111 premium hat been paid to and accepled by Ihe
Company
bl "Company" and "MONY" mean The Mutual Lile
Insurance Company 01 New 'fork.
c) "Contract Year" generally means Ihal period begin-
ning on Ihe last MondlY o' Oecember and ending on
the Sunday Immedialely preceding Ihe last Monday of
Ihelollowlng year. A Contract 'fear generally comprIses
52 weeks; however. occasionally It will comprlle 53
weekl. The Company shall promulgate Ihe starting and
ending det.. 01 each Contrect Yeer. "Contracl 'fear
One" meenl the period starting on the Ellectlve Oate 01
Ihll contract, or predecellOr contracts, and ending on
Ihe final day of Ihe same Contract 'fear. For calendar
yearl beginning on Janulry 1, 1991 and earlier, "Con-
tract Year" Ihall mean calendar year.
dl "Firat Yeer Commission." melns commISsions baled
on Flr.t Year Premluml.
el "Firat Yea, Premiums" meenl premluml lor the IIrst
policy year excepl al a Schedule shall provide otherwise.
II "Individual". whln uled In connection wllh "policy" or
"bu.lne...., means Indlvlduel pollclel other Ihan
pOlicies forming part of a Module or Group Insurance
plan o. coverage or Group pension plan 01 coverage.
gl "lndlYldual Lite In.urance Busin..s" excludes In-
dlvlduel ennultles except where olherwlse provided and
when luch term II uled In any ollhe Schedule., Include.
only pollcle. relerred 10 In such Schedule. unle..
olherwl.e provided.
COd' Number
Ag,ncy
Eltlctiv. Dill
hI 'Insurance' H,cludus flll,od dollar antJ variable CQn-
lr.lclS
II 'NotIce' muans 1101lC6 In wrlllng dell'vered In person.
or mallod. 10 lhe parly entitled lhoreto at hlllasl known
acJdrol8, any period reqUired for nollce beginning on
tho datu of such tJollvery or mailing. whichever II 8arher
II "Po//cy",ncludes annully conttacl.
kl .'PremlUm" Ineludel annutly consideration
I) "Renew,' Comml,u,ons" means commissions baled
on Renewal Premiums
ml "Renew.1 PremIUms" means premiums for policy
years olher than the Ii III pohcy year ..cepl as .
Schedule .hall provide olherwlSe
n) ..Schedul.... means the Commlnion Agreement
Schedules o. commiSSions currenlly In effect relallng to
produclS o. Ihe Company which form a parI o. this
agreement.
0) "V..red" melnl compensation. Ihe payment 01 which
does not depend on whether or not you remain under
an Inlurance 10llcitor'l contract with the Company, or
in III employ, unlll Ihe premium on which such com-
pensation ,s based II paid.
e. TERMINATION
ThiS agreement may be lermlneled by you or the
Company at any lime, by nollce 10 the olher party. In
case you viol.le any taw or provision o. Ihll agreemenl,
luch termination shell take effect Immedl.tely upon
notice Irom the Company; otherwise 30 daYI notice
shall be required unlesa a longer period la required
under appllclble stale law.
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CDC AUDIT
FU NAME KMAN AGY/FU# 082/34359
DATE SOURCE DEBIT CREDIT BALANCE
06/30/94 PAYDAY $2,210.64 $0,00 $2,210.54
07/15194 PAYDAY $742.95 $0.00 $2,953,49
07/29/94 PAYDAY $148.57 $0.00 . $3,102.06
08/15/94 PAYDAY $463,38 $0,00 $3,565.44
08/31/94 PAYDAY $1,930,04 $0,00 $5,495,48
09/15/94 PAYDAY $2,249.63 $0,00 $7,745.11
09/30/94 PAYDAY $0.00 $26.07 $7,719,04
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