(1) "Commission"means compensation accruing to a sales representative for payment by aprincipal, the rate of which is expressed as a percentage of the amount oforders, sales, or profits or as a specified amount per order or per sale.
(2) "Person"means an individual, corporation, limited liability company, partnership,unincorporated association, estate, trust, or other entity.
(3) "Principal"means a person who:
a. Manufactures,produces, imports, or distributes a product or service;
b. Contracts with asales representative to solicit orders for the product or service; and
c. Compensates thesales representative, in whole or in part, by commission.
(4) "Salesrepresentative" means a person who:
a. Contracts with aprincipal to solicit orders for products or services;
b. Is compensated, inwhole or in part, by commission;
c. Is not a seller whocomplies with:
1. G.S. 25A‑39and G.S. 25A‑40; or
2. Part 429 of 16 Codeof Federal Regulations (January 1, 2003);
d. Repealed by SessionLaws 2003‑331, s. 1, effective October 1, 2003.
e. Is not an employeeof the principal;
f. Does not sell ortake orders for the sale of advertising services; and
g. Is not a personrequiring a real estate broker's or sales agent's license under Chapter 93A ofthe General Statutes.
(5) "Terminate"and "termination" mean the end of the business relationship betweenthe sales representative and the principal, whether by agreement, by expirationof time, or by exercise of a right of termination of either party. (1989, c. 506, s. 1; 2003‑331,s. 1.)
(1) "Commission"means compensation accruing to a sales representative for payment by aprincipal, the rate of which is expressed as a percentage of the amount oforders, sales, or profits or as a specified amount per order or per sale.
(2) "Person"means an individual, corporation, limited liability company, partnership,unincorporated association, estate, trust, or other entity.
(3) "Principal"means a person who:
a. Manufactures,produces, imports, or distributes a product or service;
b. Contracts with asales representative to solicit orders for the product or service; and
c. Compensates thesales representative, in whole or in part, by commission.
(4) "Salesrepresentative" means a person who:
a. Contracts with aprincipal to solicit orders for products or services;
b. Is compensated, inwhole or in part, by commission;
c. Is not a seller whocomplies with:
1. G.S. 25A‑39and G.S. 25A‑40; or
2. Part 429 of 16 Codeof Federal Regulations (January 1, 2003);
d. Repealed by SessionLaws 2003‑331, s. 1, effective October 1, 2003.
e. Is not an employeeof the principal;
f. Does not sell ortake orders for the sale of advertising services; and
g. Is not a personrequiring a real estate broker's or sales agent's license under Chapter 93A ofthe General Statutes.
(5) "Terminate"and "termination" mean the end of the business relationship betweenthe sales representative and the principal, whether by agreement, by expirationof time, or by exercise of a right of termination of either party. (1989, c. 506, s. 1; 2003‑331,s. 1.)
(1) "Commission"means compensation accruing to a sales representative for payment by aprincipal, the rate of which is expressed as a percentage of the amount oforders, sales, or profits or as a specified amount per order or per sale.
(2) "Person"means an individual, corporation, limited liability company, partnership,unincorporated association, estate, trust, or other entity.
(3) "Principal"means a person who:
a. Manufactures,produces, imports, or distributes a product or service;
b. Contracts with asales representative to solicit orders for the product or service; and
c. Compensates thesales representative, in whole or in part, by commission.
(4) "Salesrepresentative" means a person who:
a. Contracts with aprincipal to solicit orders for products or services;
b. Is compensated, inwhole or in part, by commission;
c. Is not a seller whocomplies with:
1. G.S. 25A‑39and G.S. 25A‑40; or
2. Part 429 of 16 Codeof Federal Regulations (January 1, 2003);
d. Repealed by SessionLaws 2003‑331, s. 1, effective October 1, 2003.
e. Is not an employeeof the principal;
f. Does not sell ortake orders for the sale of advertising services; and
g. Is not a personrequiring a real estate broker's or sales agent's license under Chapter 93A ofthe General Statutes.
(5) "Terminate"and "termination" mean the end of the business relationship betweenthe sales representative and the principal, whether by agreement, by expirationof time, or by exercise of a right of termination of either party. (1989, c. 506, s. 1; 2003‑331,s. 1.)
