David R. Green and Carolyn B. Green - Page 3

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          Lake City, Utah, at the time the petition was filed in docket No.           
          26100-96.                                                                   
              On or about June 1, 1980, petitioner David R. Green                    
          (petitioner) entered into a general agency contract (the                    
          Contract) with Washington National Insurance Co. of Evanston,               
          Illinois (WNIC).  Petitioner was authorized to operate as a                 
          general agent for WNIC in and around Salt Lake City, Utah.  As a            
          general agent, petitioner was to procure, both personally and               
          through sales agents, applications for individual life and health           
          insurance on terms authorized by WNIC.  As a general agent,                 
          petitioner was also responsible for training and supervising                
          those sales agents of WNIC operating in Utah.  To facilitate his            
          activities as a general agent, petitioner formed the Financial              
          Business Corporation (FBC).  Sales agents were not employed by              
          petitioner or FBC but rather were affiliated with WNIC.                     
               WNIC unilaterally terminated the Contract in August 1983.              
          In a letter to petitioner dated August 2, 1983, Richard C.                  
          Heverly (Heverly), vice president and director of general                   
          agencies for WNIC, outlined the reason for the termination of the           
          Contract.  Heverly indicated that the Contract was being                    
          terminated "for cause".  Heverly also indicated that petitioner             
          had failed to adequately perform his duty to "supervise the                 
          professional activity and conduct" of the sales agents.                     







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