A trust fund shall be established when an athlete agent is the recipient of the athlete’s salary. An athlete agent who receives any payment on behalf of the athlete shall immediately deposit the payment in a trust fund account maintained by the athlete agent in a state or federally chartered financial institution.
Cal. Bus. & Prof. Code § 18897.2
Professional Athletes and Athlete Agents
Known as the Miller-Ayala Athlete Agents Act
The act spans §§ 18895–18897 (33 sections).
Added by Stats. 1996, Ch. 857, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.