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).]

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Terms Used In Maine Revised Statutes Title 10 Sec. 1341

  • 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. See Maine Revised Statutes Title 10 Sec. 1341
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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. See Maine Revised Statutes Title 10 Sec. 1341
  • Sales representative: means a person who:
  • 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).