Texas Business & Commerce Code

§ 54.001 — DEFINITIONS

BC § 54.001Title 4. BUSINESS OPPORTUNITIES AND AGREEMENTS · Ch. 54. COMPENSATION AGREEMENTS FOR SALES REPRESENTATIVES

Statute text

In this chapter:

(1)"Commission" means compensation paid a sales representative by a principal in an amount based on a percentage of the dollar amount of certain orders for or sales of the principal's product.

(2)"Principal" means a person who:

(A)manufactures, produces, imports, or distributes a product for sale;

(B)uses a sales representative to solicit orders for the product; and

(C)compensates the sales representative wholly or partly by commission.

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.