Section 371.370 - Definitions for KRS 371.375 to 371.385As used in KRS 371.375 to 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:7/15/1988 Created 1988 Ky. Acts ch. 167, sec. 1, effective7/15/1988.