Wholesale Agreement between Lincoln Life and Annuity Co. of New York, Lincoln Financial Advisors Corp. and Delaware Distributors, LP
What is this form?
The Wholesale Agreement between Lincoln Life and Annuity Co. of New York, Lincoln Financial Advisors Corp., and Delaware Distributors, LP is a legal document that outlines the relationship and responsibilities among the parties involved in the distribution of variable annuity and life insurance contracts. This form establishes Delaware Distributors as the wholesaler tasked with recruiting business firms to distribute these financial products, differentiating it from other agreements by focusing on wholesaling operations and regulatory compliance in the context of securities law.
Main sections of this form
- Definition of parties involved and their roles in the agreement.
- Appointment and wholesaling duties of Delaware Distributors as the wholesaler.
- Recruitment and screening process for brokers authorized to sell the contracts.
- Responsibilities related to marketing and sales materials for the contracts.
- Indemnification clauses outlining liability protections for the parties.
- Termination provisions detailing conditions for ending the agreement.
When this form is needed
This Wholesale Agreement is utilized when Lincoln Life and Annuity Co. and Lincoln Financial Advisors need to formally designate Delaware Distributors as the wholesaler for their variable annuity and life insurance contracts. It is necessary when establishing distribution arrangements with brokers and setting up regulatory compliance frameworks for the sale of these products.
Who should use this form
- Insurance companies looking to formalize distribution agreements for their products.
- Financial advisors and underwriters involved in the sale of variable annuity and life insurance contracts.
- Distributors and wholesalers seeking to establish their roles in the distribution network.
- Firms that intend to recruit brokers to promote financial products in compliance with federal and state regulations.
Completing this form step by step
- Identify the parties involved in the agreement, including their roles and responsibilities.
- Specify the terms of appointment for Delaware Distributors as the wholesaler for the contracts.
- Detail the procedures for recruiting and managing brokers authorized to sell the contracts.
- Outline the marketing and distribution strategies that will be employed.
- Include indemnification clauses to protect against potential liabilities.
- Set forth the conditions under which the agreement may be terminated.
Notarization requirements for this form
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to properly define the roles of each party involved in the agreement.
- Neglecting to specify the marketing and sales material approval processes.
- Omitting key regulatory compliance details that are crucial for the wholesaler function.
- Overlooking the need for mutual consent on broker recruitment preferences.
Why complete this form online
- Convenient access to legal templates drafted by licensed attorneys.
- Editable format allows for quick and tailored modifications to fit specific needs.
- Reliable resources ensure that users stay compliant with current laws and regulations.
- Immediate downloads save time compared to traditional legal services.
Legal use & context
- The Wholesale Agreement is essential for compliance with insurance and securities regulations.
- It serves as a binding contract that protects the interests of all parties involved.
- Proper completion and execution ensure enforceability in a legal context concerning financial products.
Summary of main points
- This Wholesale Agreement formalizes the relationship between insurance companies and distributors.
- Understanding the key components is critical for effective compliance and operation.
- Users should be aware of common mistakes to ensure the agreement is valid and enforceable.
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FAQ
Lincoln National Corporation is a Fortune 250 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies.Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.
Or, speak with a Customer Care Professional by calling 800-487-1485 or emailing us at CustServSupportTeam@LFG.com.
TORONTO (June 15, 2009) Sun Life Financial Inc. (TSX/NYSE: SLF) announced today it is acquiring the United Kingdom operations of Lincoln National Corporation. The value of the transaction is approximately £195 million (CDN$359 million).
Mitchell H. Grant, ChFC. 614-431-4330. Email. Wayne Lanum. 614-601-3825. Email. Christian E. Laver. 614-431-4327. Email.
They have been named as the Best Life Insurance Company in the United States multiple times by World Finance magazine. Lincoln Financial ranked at number 205 on the Fortune 500 list for 2018.
They have been named as the Best Life Insurance Company in the United States multiple times by World Finance magazine. Lincoln Financial ranked at number 205 on the Fortune 500 list for 2018.
Lincoln National Life Insurance Company is a subsidiary of Lincoln Financial Group. The company was founded in 1905, and it's headquartered in Radnor, Pennsylvania. It has spent 25 years on the Fortune 500 list.
Our parent company, Lincoln National Corporation, and its affiliates operate under the marketing name of Lincoln Financial Group.
