Definitions

§441. Definitions (1) "Commission" means compensation paid a sales representative by a principal in an amount based on a percentage of the dollar amount of certain orders for or sales of the principal's product. (2) "Principal" means a person who: (a) Repealed by Acts 1995, No. 487, §2. (b) Manufactures, produces, imports, or distributes a product for sale to customers who purchase the product for resale; (c) Uses a sales representative to solicit orders for the product; and (d) Compensates the sales representative in whole or in part by commission. (3) "Sales representative" means a person who solicits, on behalf of a principal, orders for the purchase at wholesale of the principal's product. (4) "Termination" means the end of services performed by a sales representative for a principal whether by discharge, resignation, or expiration of a contract. Acts 1988, No. 774, §1, eff. July 18, 1988; Acts 1995, No. 487, §§1, 2.