549.4 Royalty contract requirements.
A contract for the payment of royalties between a performing rights society and a proprietor executed in this state shall meet all of the following requirements:
1. Be in writing.
2. Be signed by the parties.
3. 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.
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 rates for the duration of the contract.
96 Acts, ch 1155, §4