§1341. Definitions
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
[PL 1991, c. 296 (NEW).]
1.
Commissions.
"Commissions" means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the amount of orders or sales.
[PL 1991, c. 296 (NEW).]
2.
Principal.
"Principal" means a person, partnership, corporation or other business entity that does not have a permanent or fixed place of business in this State and that:
A.
Manufactures, produces, imports or distributes a product for wholesale;
[PL 1991, c. 296 (NEW).]
B.
Contracts with sales representatives to solicit orders for the product; and
[PL 1991, c. 296 (NEW).]
C.
Compensates the sales representative, in whole or in part, by commission.
[PL 1991, c. 296 (NEW).]
[PL 1991, c. 296 (NEW).]
3.
Sales representative.
"Sales representative" means a person who:
A.
Contracts with a principal to solicit orders for the purchase at wholesale of the principal's product;
[PL 1991, c. 296 (NEW).]
B.
Is compensated, in whole or in part, by commission; and
[PL 1991, c. 296 (NEW).]
C.
Does not place orders or purchase for that person's own account or for resale.
[PL 1991, c. 296 (NEW).]
[PL 1991, c. 296 (NEW).]
SECTION HISTORY
PL 1991, c. 296 (NEW).