CHAPTER 339-E SALES REPRESENTATIVES AND POST-TERMINATION COMMISSIONS
Section 339-E:1
339-E:1 Definitions. –
In this chapter:
I. "Commission" means compensation paid a sales representative by a principal, the rate of which is expressed as a percentage of the dollar amount of orders or sales of the principal's product.
II. "Principal" means a person who manufactures, produces, imports or distributes a product for sale to customers who purchase the product for resale; uses a sales representative to solicit orders for such product; and compensates individuals who solicit orders, in whole or in part, by commission.
III. "Sales representative" means an individual other than an employee, who contracts with a principal to solicit orders and who is compensated, in whole or in part, by commission but shall not include one who places orders or purchases exclusively for his own account for resale.
IV. "Termination" means the end of services performed by the sales representative for the principal by discharge, resignation, or death.
Source. 1989, 244:1. 1990, 185:1, eff. June 26, 1990.