California Labor Code

§ 1700.25

LAB § 1700.25 Effective Jan 1, 1995Div. 2 · Part 6 · Ch. 4 · Art. 3

Statute text

(a)A licensee who receives any payment of funds on behalf of an artist shall immediately deposit that amount in a trust fund account maintained by him or her in a bank or other recognized depository. The funds, less the licensee’s commission, shall be disbursed to the artist within 30 days after receipt. However, notwithstanding the preceding sentence, the licensee may retain the funds beyond 30 days of receipt in either of the following circumstances:

(1)To the extent necessary to offset an obligation of the artist to the talent agency that is then due and owing.

(2)When the funds are the subject of a controversy pending before the Labor Commissioner under Section 1700.44 concerning a fee alleged to be owed by the artist to the licensee.

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Legislative history

Amended by Stats. 1994, Ch. 1032, Sec. 1. Effective January 1, 1995.