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Current as of January 01, 2025 | Updated by Findlaw Staff
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:
1. In writing;
2. Signed by the parties;
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.
Cite this article: FindLaw.com - Virginia Code Title 59.1. Trade and Commerce § 59.1-462. Royalty contract requirements - last updated January 01, 2025 | https://codes.findlaw.com/va/title-59-1-trade-and-commerce/va-code-sect-59-1-462/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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