Overview
(Please register to view this content in its entirety)
On January 1, 2000 , SB 1162 became law. This law requires that 15% of the earnings of an unemancipated minor rendering artistic or creative services be transferred to a set aside trust. In “the business” this has become known as a Coogan Account. A year after the law was passed, employers were still holding some set-aside funds, awaiting trust information from parents/guardians. Both SAG and the MPAA wanted to find a way to ensure these funds were transferred to their rightful owners, and to have the money protected until that time.
.