Indiana Code 24-4-7-3. “Principal”
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Sec. 3. As used in this chapter, “principal” means a person who:
(2) contracts with a sales representative to solicit wholesale orders for the product; and
(1) manufactures, produces, imports, sells, or distributes a product for wholesale;
Terms Used In Indiana Code 24-4-7-3
- commission: means compensation that accrues to a sales representative, for payment by a principal, at a rate expressed as a percentage of the dollar amount of orders taken or sales made by the sales representative. See Indiana Code 24-4-7-1
- person: means an individual, corporation, limited liability company, partnership, unincorporated association, estate, or trust. See Indiana Code 24-4-7-2
- sales representative: means a person who:
Indiana Code 24-4-7-4
(3) compensates the sales representative, in whole or in part, by commission.
As added by P.L.238-1985, SEC.1.