California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 2.5 — Athlete AgentsArticle 2 — Professional Athletes and Athlete AgentsSection 18897.2
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.
Notes
Requires establishment of a trust fund when an athlete agent receives an athlete’s salary. Any athlete agent who receives a payment on the athlete’s behalf must immediately deposit that payment into a trust-fund account maintained by the agent at a state- or federally chartered financial institution.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 18897.2 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-2-5/article-2/section-18897-2