Sales Representatives Protection Act - States that the purpose of this Act is to provide a reasonable and equitable system under which sales representatives may be indemnified for commissions denied them because of wrongful terminations.
Title I: Indemnification - Requires any principal to indemnify any sales representative who experiences a loss of commission income if such principal causes such loss by wrongfully: (1) taking away from such representative an account originally developed or serviced by such representative; (2) causing the amount of such representative's commission to be decreased by 25 percent or more by reducing the size of such representative's geographic territory; or (3) decreasing the rate of such representative's commission by 25 percent or more. States that such indemnification must be paid in accordance with formulae set forth in this Act.
Title II: Contracts Between Sales Representatives and Principals - Sets forth provisions which must be included in any employment contract between sales representatives and their principals including: (1) rate of commission; (2) terms affecting advance payments of future compensation; and (3) a description of the sales territory.
Lists duties of the principal with respect to furnishing such sales representative with information concerning his or her accounts or compensation.
Title III: Miscellaneous - Sets forth procedures by which this Act may be enforced in any United States district court.
Introduced in House
Introduced in House
Referred to House Committee on Interstate and Foreign Commerce.
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