You agree that BFI may withhold 5% of all premiums written or assumed by BRANCH (the “administrative costs”) in compensation for bFI, which acts as the institution`s lawyer and lawyer and manages Branch`s business and business. The rest of the premiums are retained by BRANCH and used for all expenses, including losses, loss adjustment expenses, capital expenditures, damages, legal fees, taxes, taxes, royalties, royalties, other government fines and royalties, reserve and surplus building and reinsurance, and may be used for purposes other than the BFI decides for the benefit of subscribers. Branch is also responsible for the payment of general administrative expenses incurred by the BFI, including, but not limited, sales commissions, salaries and staff benefits, customer/policy acquisition costs, taxes, rents, depreciation and delivery. All fees can be paid directly by BRANCH, or if they are paid by BFI, separately from the management fee. The subscriber agrees to pay his policy premium and agrees to make an excess contribution of 2% of all premiums to BRANCH in addition to the policy premiums (“excess”). The excess contribution must be paid to BRANCH on the original validity date of the coverage and the effective date of all mentions generating an additional premium. The subscriber understands and accepts that the amounts paid as surplus contributions are credited in excess of insurance for the benefit and protection of subscribers branch and that the excess contributions paid to BRANCH are not insurance premiums. In the event of the purchase of an insurance policy or other confirmation of insurance coverage by BRANCH, the return of excess contributions may only take place after the BRANCH subscriber is deducted and, if necessary, with the agreement of the BFI and the regulatory authorities. BRANCH will proportionate all excess contributions (excluding interest) made during this period to subscribers who terminate coverage for any reason. All other excess contributions, including contributions to previous insurance terms, are withheld by BRANCH for the benefit of all remaining subscribers. You offer attached and agree to pay your insurance premiums and exchange them with other BRANCH subscription policies offering insurance for all insured losses, as stated in these policies.
The subscriber (“you” or “you”) to the insurance exchange (“BRANCH”), a mutual insurance exchange based in Ohio, agrees with all other BRANCH subscribers and with Branch Financial, Inc. (“BFI”), a Delaware company with a principal-headquartered commercial building in Columbus, Ohio, as attorney-in-Fact for BRANCH, as Attorney-in-Fact: You designate BFI as attorney-in-Fact with the express authority and authority to do This authority includes the ability to perform all the usual mutual insurance exchange functions, including, but not limited to, the following responsibilities: (a) exchanges with other BRANCH subscribers, to write all types of mutual insurance contracts that BRANCH is legally authorized to write; b) issue, exchange, renew, not renew, terminate or modify insurance policies; (c) to adapt, regulate, defend, challenge, challenge, challenge and settle rights or losses under members` insurance policies; (d) act as an intermediary to obtain reinsurance; (e) accept the treatment of the proceedings on behalf of BRANCH in the actions brought against BRANCH for the contracts exchanged; (f) open accounts and lend money on behalf of BRANCH; (g) recruit and compensate staff and officers; (h) collect bonuses and invest and reinvest funds; (i) receive notifications and proof of loss; (j) enter into all legitimate contracts for the implementation and execution of BRANCH`s legal affairs; (k) the management of subscriber savings accounts, including allowances and distributions; (l) make charitable donations on behalf of subscribers; and (m) the management and management of the business and business of BRANCH, its subsidiaries and associated companies.