No copyright owner or performing rights society may enter into, or offer to enter into, a contract for the payment of royalties by a proprietor unless at least 72 hours prior to the execution of that contract, it provides to the proprietor, in writing, the following:
(a) A schedule of the rates and terms of royalties under the contract.
(b) Notice that the proprietor is entitled to the information contained in subdivision (a) and Section 21751.5.
(Added by Stats. 1996, Ch. 340, Sec. 2. Effective January 1, 1997.)