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Form 8484 for Burbank California: What You Should Know

CODE OF PRINCIPLES (1) All members shall act in conformity with all applicable laws, rules and regulations of the State of California relating to the business of insurance and other business enterprises, and shall conduct their business with reasonable care, to conform and comply with applicable laws, rules and regulations. All members shall be responsible for their activity in accordance with all applicable laws. (2) Members shall be in control of and responsible for their business, and shall not undertake any conduct, activity or business that will adversely affect the operation, security or profitability, the reputation of or the business of other members. Notwithstanding any other term of this Agreement, Member shall not have any personal liability for any business transactions or conduct of any other members or of the membership or its business. (3) All members shall make the full disclosure required by law to all parties engaged in or affected by their transactions and other activities. Members shall not attempt to hide or alter the contents of the members' files in any way. REPRESENTATIONS AND WARRANTIES Member shall provide a copy of all statements, documents and other relevant material or evidence of its representation or warranty to the other members. Member shall be responsible for the accuracy, completeness and truthfulness of his or her representations and warranties, and Member shall have the full power and authority to establish additional matters or conditions on which any of the representations and warranties of a member is conditioned or fulfilled. In the event of a dispute as to any representation or warranty of a member, the party asserting that the representation or warranty is not true or correct or the breach thereof was due to circumstances beyond the reasonable control of that party shall have the burden of proving it with appropriate evidence. As an additional and separate guarantee relating to Member's representations and warranties against material changes in any representation or warranty, Member represents to the other members that it shall promptly and in good faith update and change any representation or warranty that becomes material and to the extent there is any inconsistency between Member's representation and warranties herein, that this shall not constitute a material inconsistency, and in any event shall take steps (including the right to use a new member's code of conduct or otherwise) to correct Member's representation and warranties and to notify any such other member of any such material inconsistency within 60 days following the date such other member becomes aware of such material inconsistency. OTHER OBLIGATIONS Member shall accept and perform all obligations for the benefit of the other members arising from laws or the agreements of other members and this Agreement.

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