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COPYRIGHT ACT
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Copyright Law
Copyright Act
« 17 USC Sec. 1004 | Index | 17 USC Sec. 1006 »
17 USC Sec. 1005 - Deposit of royalty payments and deduction of expenses
The Register of Copyrights shall receive all royalty payments
deposited under this chapter and, after deducting the reasonable
costs incurred by the Copyright Office under this chapter, shall
deposit the balance in the Treasury of the United States as
offsetting receipts, in such manner as the Secretary of the
Treasury directs. All funds held by the Secretary of the Treasury
shall be invested in interest-bearing United States securities for
later distribution with interest under section 1007. The Register
may, in the Register's discretion, 4 years after the close of any
calendar year, close out the royalty payments account for that
calendar year, and may treat any funds remaining in such account
and any subsequent deposits that would otherwise be attributable to
that calendar year as attributable to the succeeding calendar year.
-SOURCE-
(Added Pub. L. 102-563, Sec. 2, Oct. 28, 1992, 106 Stat. 4242;
amended Pub. L. 103-198, Sec. 6(b)(2), Dec. 17, 1993, 107 Stat.
2312.)
-MISC1-
AMENDMENTS
1993 - Pub. L. 103-198 struck out at end ''The Register shall
submit to the Copyright Royalty Tribunal, on a monthly basis, a
financial statement reporting the amount of royalties under this
chapter that are available for distribution.''
-SECREF-
SECTION REFERRED TO IN OTHER SECTIONS
This section is referred to in sections 801, 1006, 1009 of this
title.
« 17 USC Sec. 1004 | Index | 17 USC Sec. 1006 »
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