2011 Missouri Revised Statutes
TITLE XXVI TRADE AND COMMERCE
Chapter 407 Merchandising Practices
Section 407.911. Definitions.


MO Rev Stat § 407.911. What's This?

Definitions.

407.911. As used in sections 407.911 to 407.915, the following terms mean:

(1) "Commission", compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the dollar amount of orders or sales, or as a specified amount per order or per sale;

(2) "Principal", a person, firm, corporation, partnership or other business entity, whether or not it has a permanent or fixed place of business in this state, and who:

(a) Manufactures, produces, imports, provides, or distributes a product or service for sale;

(b) Contracts with a sales representative to solicit orders for the product or service; and

(c) Compensates the sales representative, in whole or in part, by commission;

(3) "Sales representative", a person, firm, corporation, partnership, or other business entity who contracts with a principal to solicit orders and who is compensated, in whole or in part, by commission, but shall not include a person, firm, corporation, partnership, or other business entity who places orders or purchases for its own account for resale.

(L. 1989 S.B. 192 1 subsec. 1, A.L. 2005 S.B. 211)

Annotation Copyright Missouri Joint Committee on Legislative Research

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