As used in this article, the term:
(1) "Commission" means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the dollar amount of orders or sales or as a specified amount per order or per sale.
(2) "Principal" means a person who does business in this state and who:
(A) Manufactures, produces, imports, or distributes a tangible product for wholesale;
(B) Contracts with a sales representative to solicit orders for the product; and
(C) Compensates the sales representative in whole or in part by commission.
(3) "Sales representative" means a person who contracts with a principal to solicit wholesale orders and who is compensated in whole or in part by a commission, but such term does not include one who places orders or purchases for his or her own account for resale.
Section: 10-1-700 10-1-701 10-1-702 10-1-703 10-1-704 NextLast modified: October 14, 2016