A FINRA Member Who Is a Principal Underwriter Under the Definition

A FINRA member who is a principal underwriter under the definition provided in the Investment Company Act of 1940 is permitted to sell variable contracts through another broker-dealer only if:
I. the broker-dealer is also a FINRA member.
II. there is a sales agreement in effect between the underwriter and the broker-dealer.
III. the broker-dealer is also a principal underwriter as defined by the Investment Company Act of 1940.

A) either I or II is true.
B) both I and II are true.
C) all three statements-I, II, and III-are true.
D) any one of the three statements-I, II, or III-are true.