Kentucky Statutes 371.370 – Definitions for KRS 371.375 to 371.385
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As used in KRS § 371.375 to KRS § 371.385, unless the context otherwise requires:
(1) “Commissions” means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the amount of orders or sales or as a specified amount per order or per sale.
(2) “Person” means an individual, corporation, partnership, association, estate, or trust. (3) “Principal” means a person who does not have a permanent or fixed place of
business in this state and who:
(a) Manufactures, produces, imports, or distributes a tangible product for wholesale;
(b) Contracts with a sales representative to solicit orders for the product; and
(c) Compensates the sales representative, in whole or in part, by commission. (4) “Sales representative” means a person who:
(a) Contracts with a principal to solicit wholesale orders; (b) Is compensated, in whole or in part, by commission;
(c) Does not place orders or purchase for his own account or for resale; and
(d) Does not sell or take orders for the sale of products to the ultimate consumer.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 167, sec. 1, effective July 15, 1988.
(1) “Commissions” means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the amount of orders or sales or as a specified amount per order or per sale.
Terms Used In Kentucky Statutes 371.370
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) “Person” means an individual, corporation, partnership, association, estate, or trust. (3) “Principal” means a person who does not have a permanent or fixed place of
business in this state and who:
(a) Manufactures, produces, imports, or distributes a tangible product for wholesale;
(b) Contracts with a sales representative to solicit orders for the product; and
(c) Compensates the sales representative, in whole or in part, by commission. (4) “Sales representative” means a person who:
(a) Contracts with a principal to solicit wholesale orders; (b) Is compensated, in whole or in part, by commission;
(c) Does not place orders or purchase for his own account or for resale; and
(d) Does not sell or take orders for the sale of products to the ultimate consumer.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 167, sec. 1, effective July 15, 1988.