Grants of Authority. (a) Producer is authorized to solicit and produce applications for Products in person. (b) Producer is not authorized to collect the initial payment for benefit contracts and policies issued to individuals and groups (collectively, the “Insureds”) upon applications for Products solicited by Producer. Any such payments received by Producer shall be held by Producer in a fiduciary capacity for LIBERTY and shall not be used by Producer in any way. In the event that Producer does receive such payments, Producer shall remit any and all payments or premiums to LIBERTY promptly, but in no event later than five (5) calendar days from the date of receipt. (c) Producer is authorized to deliver benefit contracts and policies of coverage to Insureds upon applications for Products solicited by Producer and to service contracts that it has issued. (d) Producer shall be responsible for obtaining complete and accurate enrollment applications for Products and shall be responsible for communicating with the applicant throughout the application process on behalf of LIBERTY. (e) Upon enrollment approval, either Producer or LIBERTY will communicate any modified offers to the Insured.
Appears in 3 contracts
Sources: Producer Agreement, Producer Agreement, Producer Agreement