Authority and Responsibility of Producer When Utilizing. AgentSecure Carrier Contracts: a) Duly Licensed - Producer shall be licensed and in good standing with all required state insurance authorities and will provide copies of all such licenses to AgentSecure as part of the Producer approval process. The maintenance of such license in good standing shall be at all times the responsibility of Producer as an express condition to continuation of this agreement. In the event of any cancellation, revocation, suspension or forfeiture of such license, Producer shall immediately notify AgentSecure of the complete details thereof, and Producer shall forfeit all commissions, earned or unearned, on Policies effective as of such cancellation, revocation, suspension or forfeiture of license. Producer acknowledges that policies may only be written and commissions received in the states in which Producer is duly licensed and a copy of the current license is on file with AgentSecure.
Appears in 2 contracts
Sources: Producer Agreement, Producer Agreement
Authority and Responsibility of Producer When Utilizing. AgentSecure Carrier Contracts:
a) Duly Licensed - Producer shall be licensed and in good standing with all required state insurance authorities and will provide copies of all such licenses to AgentSecure as part of the Producer approval process. The maintenance of such license in good standing shall be at all times the responsibility of Producer as an express condition to continuation of this agreement. In the event of any cancellation, revocation, suspension or forfeiture of such license, Producer shall immediately notify AgentSecure of the complete details thereof, and Producer shall forfeit all commissions, earned or unearned, on Policies effective as of such cancellation, revocation, suspension or forfeiture of license. Producer acknowledges that policies may only be written and commissions received in the states in which Producer is duly licensed and a copy of the current license is on file with AgentSecure.
Appears in 1 contract
Sources: Producer Agreement