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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXVI. Trade and Commerce § 407.911. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxvi-trade-and-commerce/mo-rev-st-407-911/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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