RS 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(a) Repealed by Acts 1995, No. 487, §2.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.