§ 7-7.1 Child performer trust account\n 1. Scope. This section applies to contracts pursuant to which a child\nperformer:\n (a) is employed or agrees to render artistic or creative services for\na fee, either directly or through a third-party individual or personal\nservices corporation (loan-out company), or through an agency or service\nthat provides artistic or creative services (casting agency); and\n (b) agrees to purchase, or otherwise secure, sell, lease, or otherwise\ndispose of literary, musical, or dramatic properties, or use of a\nperson's likeness, voice recording, performance, or story of or\nincidents in his or her life, either tangible or intangible, or any\nother rights therein for use in motion pictures, television, the\nproduction of sound recordings in any format now
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§ 7-7.1 Child performer trust account\n 1. Scope. This section applies to contracts pursuant to which a child\nperformer:\n (a) is employed or agrees to render artistic or creative services for\na fee, either directly or through a third-party individual or personal\nservices corporation (loan-out company), or through an agency or service\nthat provides artistic or creative services (casting agency); and\n (b) agrees to purchase, or otherwise secure, sell, lease, or otherwise\ndispose of literary, musical, or dramatic properties, or use of a\nperson's likeness, voice recording, performance, or story of or\nincidents in his or her life, either tangible or intangible, or any\nother rights therein for use in motion pictures, television, the\nproduction of sound recordings in any format now known or hereafter\ndevised, the legitimate or living stage, or otherwise in the\nentertainment field.\n 2. Establishment of child performer trust account. (a) Employer.\nWithin thirty days following the final day of employment, except when\nthe performance contract is a period longer than thirty days, a child\nperformer's employer is required to transfer fifteen percent of gross\nearnings to the custodian of the child performer's child performer trust\naccount. When the employment is longer than thirty days, the employer\nshall make the required transfer every payroll period. Transfers must\nconform with part six of this article. The use of an instrument to make\nthe transfer which substantially conforms with section 7-6.9 is\nsufficient. If the child performer's employer has not been notified\nwithin fifteen days of the commencement of employment of the existence\nof a child performer trust account, or no such account has been\nestablished, then the child performer's employer shall transfer such\nmonies together with the child performer's name and last known address\nto the state comptroller for placement into the child performer's\nholding fund established in section ninety-nine-k of the state finance\nlaw and such monies shall be administered by the state comptroller. Once\ntransfers have been made to the child performer's trust account or the\nchild performer's holding fund, as required by this subdivision, the\nchild performer's employer has no further duty under this section.\n (b) Custodian and guardian. Within fifteen days of the commencement of\nemployment the child performer's guardian or custodian must establish a\nchild performer trust account in accordance with part six of this\narticle, unless an account has previously been established. Once the\nchild performer trust account has been established the child performer's\nguardian or custodian shall notify the child performer's employer of the\nexistence of the account and any additional information required to make\ntransfers. The custodian of the account shall promptly notify the child\nperformer's employer of any change in facts which affect the employer's\nobligation to set aside funds under this section. Upon request of the\nparent, legal guardian or the child performer's guardian ad litem, the\ncustodian may require the child performer's employer to transfer more\nthan fifteen percent of the gross earnings to the child performer trust\naccount. The child performer's parent or legal guardian may serve as\ncustodian. Once the child performer trust account balance reaches two\nhundred fifty thousand dollars or more a trust company shall be\nappointed as custodian of the account.\n (c) Termination of child performer trust account. The child performer\nmay terminate the child performer trust account upon reaching the age of\neighteen.\n 3. Standard for child performer trust accounts. Custodian management\nof funds which are required to be placed into a child performer trust\naccount shall be subject to part six of this article, in all respects\nexcept as provided in this section.\n