Illinois Compiled Statutes 815 ILCS 637/15 – Royalty contract requirements
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Every contract for the payment of royalties between a proprietor and a performing rights society executed in this State 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
(1) In writing;
Terms Used In Illinois Compiled Statutes 815 ILCS 637/15
- Contract: A legal written agreement that becomes binding when signed.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(2) Signed by the parties;
(3) Written to include, at a minimum, the following information:
(A) The proprietor’s name and business address and
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the name and location of each place of business to which the contract applies;
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(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
(C) The duration of the contract; and
(D) The schedule of rates and terms of the royalties
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to be collected under the contract, including any sliding scale or schedule for any increase or decrease of rates for the duration of the contract.
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