17-U.S.C.-1005

17-U.S.C.-1005

§1005 – Deposit of Royalty Payments and Deduction of Expenses

Pathway

Title 17 > Chapter 10 > Subchapter C > Section 1005

Details

  • Reference: Section 1005
  • Legend: §1005 – Deposit of Royalty Payments and Deduction of Expenses
  • USCode Year: 2013

Provision Content

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 Registers 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.

(Added Pub. L. 102–563, §2, Oct. 28, 1992, 106 Stat. 4242; amended Pub. L. 103–198, §6(b)(2), Dec. 17, 1993, 107 Stat. 2312.)

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.

U.S. Encyclopedia of Law Coverage

17-U.S.C.-1004 in the Legal Encyclopedia: Copyrights

In this entry about 17-U.S.C.-1004, find legal reference material, bibliographies and premiere content related to copyrights in the American Encyclopedia of Law, presenting a comprehensive view of the United States copyrights-specific issues, written by authorities in the field.

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