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EXHIBIT 10.95
[THE CHESAPEAKE LIFE INSURANCE COMPANY LOGO]
MASTER GENERAL AGENT AGREEMENT
TIM McCOY & ASSOCIATES INC.
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Full Name (Agency Name, if Partnership or
Corporation)
P.O BOX 163010
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Address
AUSTIN
TX
78716-3010
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City
State
Zip Code
This Agreement between The Chesapeake Life
Insurance Company (hereinafter
referred to as the "Company"), and the
Master General Agent named herein,
(hereinafter referred to as "you," "your"
or "yours") is subject to the
following terms and conditions:
1. APPOINTMENT & DESIGNATION: You are
hereby appointed as the Master General
Agent of the Company for the purpose of
soliciting, personally or through other
agents, applications for the Company's
products in accordance with this
Agreement. Soliciting brokers or agents you
submit for appointment and approved
by the Company are referred to as agents.
The Company reserves the right to
refuse appointment or terminate appointment
of any agent. This Agreement does
not grant exclusive rights in any territory
or for any products.
2. RELATIONSHIP: Your relationship to the
Company shall be that of an
independent contractor and nothing
contained in the Agreement shall make you or
any of your employees, employees of the
Company. You and your agents have no
authority except that which is expressly
set forth in this Agreement. No
authority shall be implied from the
authority expressly granted.
3. AUTHORITY & GENERAL RESPONSIBILITY:
You agree to be responsible for the
prompt delivery of policies or premium
refunds sent to you or agents under you
in accordance with the Company's rules and
instructions; for agents following
all Company rules and instructions; to make
full disclosure to us of all facts
known or learned about any applicant for
coverage that relates to insurability;
for complying with all state, federal and
local laws, orders, rules,
regulations, statutes and guidelines,
including without limitation any State
statute, regulation, order or
interpretation in effect requiring you to protect
the privacy of all "Nonpublic Personal
Information" that you have about an
applicant, owner, insured, annuitant,
beneficiary or other person who seeks to
obtain, obtains or has obtained a product
or service from the Company; for
obtaining, maintaining, and paying for the
necessary licenses and appointment
fees in the states in which you and your
agents operate, whether resident or
nonresident. You also agree to keep on file
a signed copy of the Promissory
Note, Guaranty and Security Agreement,
herein made part of the contract. The
Company shall not be responsible for any
expense you or your agents incur,
losses to the Company by you or your
agent's acts or omissions, or any credit,
advance or commission you make or pay to
any agent. You agree to conduct your
activities in a professional manner and
abide by all present and future
decisions and instructions issued by the
Company. You agree to honor the
Company's Code of Conduct detailed in the
Ethics Policy attached and made part
of this Agreement and you further agree to
ensure that agents under you are
familiar and compliant with the Company's
Ethics Policy and Code of Conduct.
You agree to provide the Company with
copies of all manuals, booklets, guides
and audiovisual materials used in the
recruitment and training of your agents.
After giving you reasonable notice, the
Company may visit your office, inspect
all records, transactions, correspondence
and other information we may
reasonably require, accompany you while you
represent the Company, all at
reasonable times and only in relation to
business that has been placed with us.
"Nonpublic Personal Information" has the
meaning set forth in section 509 of the
Gramm-Leach Bliley Act (P.L. 106-102) and
any federal and state laws and
regulation that implement that Act and
includes but is not limited to name,
address, and financial or health
information of a policyholder, insured,
applicant and prospect.
This section survives the termination of
the Master General Agent Contract.
The Company authorizes you to (a) solicit
applications for insurance only on
products specified on the attached
Compensation Schedule, and similar or related
documents required by the Company and to
forward these documents promptly to the
Company for consideration, (b) receive any
application fee and initial premium
at the time of application and/or
additional first year premium collected when a
policy is
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delivered, provided you immediately submit
the whole amount received to the
Company, (c) promptly deliver the policies
issued by the Company to the insured
and while the applicant's health has not
changed and premiums have been paid in
full.
4. AGENT'S CONTRACTS: You shall use without
alteration the Company's printed
contracts when contracting an agent. No
such agent contract shall be in force
until (a) the contract is properly executed
by the agent, (b) the agent is duly
and properly licensed to solicit for the
Company, and (c) the agent is notified
in writing that he/she is authorized to
solicit for the Company.
5. RESTRICTIONS: Your authority does not
permit you or your agents to do any of
the following acts or to commit the Company
to perform any of the following acts
prior, during or after termination of this
Agreement:
A.
waive,
modify or change any terms, rates, conditions or limitations
of any policy; premium receipt or any other writing for the
Company;
B.
approve
evidence of insurability, bind or commit the Company on any
risk in any manner, or incur any expense or obligation in the
name
of the Company;
C.
collect or
receive any premiums except initial premiums and/or
additional first year premium collected when a policy is
delivered,
accept any payment of any past due premium except as requested
by
the
Company, or rebate any premium in any manner whether directly
or
indirectly, or commingle any premiums in a personal or business
account, other than a premium trust fund account;
D.
extend the
time for any premium payment or reinstate any policy;
waive or extend any policy condition or waive any forfeiture;
E.
adjust,
settle or commit the Company to any claim; make any
representation or state any opinion regarding the validity or
payment of any claim;
F.
solicit in
any state without a valid insurance license and
appointment in that state;
G.
enter into
any legal proceedings pertaining to the Company's
business as a representative of the Company;
H.
take a
course of action or aid others to roll business, to induce,
or attempt to induce, insureds of the Company to terminate,
reduce
coverage or replace policies issued by the Company or otherwise
disturb the relationship between the Company and its insured,
or
induce or attempt to induce any affiliated agent of the Company
to
cease association with the Company, or disparage the Company in
any
manner;
I. utilize, in the
marketing efforts performed under this Agreement,
any advertising material other than that furnished to you by
the
Company or approved in writing by the Company. Advertising
material
includes but is not limited to (i) printed and published
material,
audiovisual material, or descriptive literature used in direct
mail,
newspapers, magazines, radio and television scripts, billboards
and
similar displays; (ii) descriptive literature and sales aids of
all
kinds including but not limited to circulars, leaflets,
booklets,
illustrations, computer proposals and form letters; (iii) all
letterhead or business cards containing the Company's name or
logo
J.
cash,
endorse or negotiate any check, money order or draft made
payable to the Company, without expressed written consent from
the
Company;
K.
use the
name or initials of the Company; or any affiliate of the
Company, in whole or in part, in any business or trade name
without
express written consent from the Company.
6. LICENSES: You and your agents must be
properly licensed and appointed in
every state in which commissions may be
earned. Unless you are licensed and
appointed, we are unable to pay you
commissions on the business you produce or
the business produced by agents reporting
to you. The Company will not accept
ap
