38. For every contract binding him to the artist, the promoter shall keep, in his books, a separate account in which he shall record, upon receipt, in respect of every work or works subject to the contract,
(1) every payment from a third person with particulars permitting to identify such third person;
(2) the number and nature of all transactions made which correspond to the payments recorded and, where applicable, the number of copies printed and the number of copies sold.
Where monetary consideration remains owing to the artist after the contract is signed, the promoter shall, at intervals agreed upon by the parties of not more than one year, report to the artist, in writing, on the transactions and on the payments he has collected in respect of his work.