75-87-1 - Definitions. - Mississippi Statutes

§ 75-87-1. Definitions.
 

As used in this chapter: 
 

(a) "Commission" means 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 certain orders or sales. 

(b) "Principal" means any person who does not have a permanent or fixed place of business in this state and who: 

(i) Engages in the business of manufacturing, producing, importing or distributing a product or products for sale to customers who purchase such product or products for resale; 

(ii) Utilizes sales representatives to solicit orders for such product or products; and 

(iii) Compensates the sales representatives, in whole or in part, by commission. 

(c) "Sales representative" means any person who engages in the business of soliciting, on behalf of a principal, orders for the purchase at wholesale of the product or products of the principal. The term "sales representative" shall not include a person who places orders or purchases for such person's own account for resale or is engaged in home solicitation sales regulated pursuant to Section 75-66-1 et seq., Mississippi Code of 1972. 
 

Sources: Laws,  1988, ch. 588, § 1, eff from and after July 1, 1988, and it shall be applicable to contracts entered into after July 1, 1988.