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Form #902Agent to Accept Funds as Fiduciary
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Agent to accept funds as
fiduciary.
It is agreed between company and agent as follows:
1. Agent has full power and authority to receive and
accept proposals for insurance covering the classes of risks as company may,
from time to time, authorize to be insured; to collect, receive and receipt for
premiums on insurance tendered by agent to and accepted by company and to
retain out of the premiums collected, as full compensation on business placed
with company, commissions as may be from time to time mutually agreed upon.
It is a condition of this agreement that agent shall
refund ratably to company, on business written, commissions on canceled
liability and on reductions in premiums at the same rate at which the
commissions were originally retained.
2. In the event of the termination of this agreement,
agent having promptly accounted for and paid over premiums for which he or she
may be liable, agent's records, use and control of expirations shall remain the
property of agent and be left in his or her undisputed possession; otherwise
the records, use and control of expirations shall be vested in company.
3. Agent agrees to hold all premiums and return
premiums collected as a fiduciary trust, until payment has been made to
company, or in case of return premiums, to the insured. Accounts of money due
company on the business placed by agent with company are to be rendered monthly
so as to reach company's office not later than the 15th day of the following
month; the balance shown to be due to company shall be paid not later than 45
days after the end of the month for which the account is rendered.
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regading how we deal with your email. We pledge that we will:
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Terms Of Use
Submissions to this site, including any legal or business forms, posts, responses
to questions or other communications by contributors are not intended as and should
not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
Please note that the donator may have included different usage terms regarding this
form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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