Contracting Requirements
This requirement can be in the name of the corporation or the principal agent
What are Banking details?
Corporations in these states do not required a Life LOA
What are IA, RI, TN and WI
A contracting application is received with W9 and licenses that say "Smith Jones Agency"
What is a corporation code?
The principal agent reports to this code for their upline hierarchy
What is the corporation producer number?
This is required for all unique requests
What is Contracting Paperwork
This document should contain all business related information, for tax purposes
What is a W9 Form?
This Non-PLMA state is the only one a corporation does not need for commission overrides.
What is FL?
A contracting application with banking information that is in the name of a corp, but everything else is in the name of the producer
What is a general agent contract?
This tab on PMACS lists the principal agent(s)
What is the relationship tab?
This percentage is required on the paperwork, and if its missing we follow this process
What is the contracting incomplete process?
This value determines the principals share
What is Ownership percentage
This state is the only fraternal license state that requires a corporation to hold a Fraternal Life license if the principal holds a Fraternal Life license
What is New Mexico?
These four things are a sure what to identify a corporation code
What are a corporation indicated on application, W9 with corporation info, banking in the name of a corp, and corp licenses
Commission set up for the principal agent is set to this
What is XFR?
Typically, we only allow one principal agent to be set up for each corporate code. A secondary principal agent on the corporate code requires this
What is an exception?
A principal who doesn't own a share in the corporation should be listed as this for the corporation license
What is the Designated Responsible Licensed Producer or DLRP
What is a general agent contract?
A corporation code reports to this on the reporting details page
What is the recruiter?
Before adding a second corporation to an existing principal agent this logic is needed before an exception can be made
What is a business reason for the request?
This contract is required for corporations
What is the General Agent Agreement
We use this as a license number for IA, RI, TN and WI
What is a FEIN?
File Nexus indicates corporation files using this
What is 1_1?
A corporation code is this profile type in PMACS
What is a corporation profile type?
What is PMACS?