What does Coogan Law mean?
Coogan Law refers to the legal framework in the United States designed to protect the earnings of child actors and performers by requiring a portion of their income to be set aside in a trust account, known as a Coogan Account. The law was enacted after the misappropriation of child actor Jackie Coogan’s earnings by his parents. Under the Coogan Law, a minimum of 15% of a child performer’s earnings must be deposited into this trust account, which the child cannot access until they reach 18 years old, ensuring financial protection and long-term savings.
Example:The Coogan Law requires that a portion of the earnings from a child actor’s film project be deposited into their Coogan Account, safeguarding the funds until adulthood.
Example: A young TV star’s parents comply with the Coogan Law by ensuring that 15% of their child’s earnings are placed in a Coogan Account for future access.
Did You Know?
Before the Coogan Law, child actors were often exploited, with their earnings spent by their parents or guardians without protection!
