4.  A performing rights society shall not enter into or execute a contract for the payment of royalties by a proprietor unless, no later than 72 hours prior to the execution of the contract, the performing rights society provides to the proprietor, in writing, the following:

   a.  a schedule of the rates and terms of royalties under the contract;

Terms Used In New Jersey Statutes 56:3A-4

  • Contract: A legal written agreement that becomes binding when signed.

   b.  notice that the performing rights society shall, upon request by a proprietor, provide, before entering into a contract with that proprietor, a schedule of the rates and terms of royalties under agreements executed by the performing rights society and proprietors of comparable businesses in the same county;

   c.  in the case of a performing rights society which offers discounts to proprietors in the same county on any basis, the amounts and terms of those discounts;

   d.  notice of the provisions of section 3 of this act including the electronic address and the toll free telephone number; and

   e.  notice that the proprietor is entitled to the information required under this act and that the failure of the performing rights society to provide that information is a violation of this act.