§ 59.1-462 Royalty contract requirements
Every contract for the payment of royalties between a proprietor and a performing rights society executed, issued or renewed in the Commonwealth on or after July 1, 1995, shall be:
3. Written to include, at a minimum, the following information: a. The proprietor’s name and business address and the name and location of each place of business to which the contract applies; b. The name of the performing rights society; c. The duration of the contract; and d. The schedule of rates and terms of the royalties to be collected under the contract, including any sliding scale or schedule for any increase or decrease of such rates for the duration of the contract.
History
This law was first created in 1995. The record of its establishment is cataloged in chapter 648 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
1995, c. 648.