Senate Bill 137 Summary

• Establishes payment timeline requirements for commissions owed to independent sales representatives, effective July 1, 2013
• Requires principals to pay commissions within 13 days after termination if due at termination, or within 13 days after the commission becomes due for payments after termination
• Imposes liability on principals who fail to pay commissions on time, including exemplary damages up to three times the commission owed plus reasonable attorney's fees and court costs
• Voids any contract provisions that attempt to waive the payment requirements established in this chapter
• Applies only to contracts entered into, modified, renewed, or extended after July 1, 2013