Section 1341 - DefinitionsAs used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [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. [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; [1991, c. 296(NEW).]B. Contracts with sales representatives to solicit orders for the product; and [1991, c. 296(NEW).]C. Compensates the sales representative, in whole or in part, by commission. [1991, c. 296(NEW).] [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; [1991, c. 296(NEW).]B. Is compensated, in whole or in part, by commission; and [1991, c. 296(NEW).]C. Does not place orders or purchase for that person's own account or for resale. [1991, c. 296(NEW).] [1991, c. 296(NEW).]