Jackie Coogan was the first child actor to have to sue his parents for his earnings when he was 21.
As a consequence, The Coogan Law (also known as the California Child Actor's Bill) was established in California, in 1939, to protect future young talent from fiancial ruin by parents, guardians and managers.
Read this Topsheet article on how to open a Coogan Account.
Production companies, or their payroll companies, will be required to deposit 15% of a minor's earnings into the minor's Coogan Account.
See also: Unclaimed Coogan Funds - presented by The Actors Fund organization.
In 2003, California Senate Bill 210 named The Actors Fund as “trustee” of any Coogan funds remaining unclaimed.