2016 US Code
Title 17 - Copyrights
Chapter 10 - Digital Audio Recording Devices and Media
Subchapter C - Royalty Payments
Sec. 1005 - Deposit of royalty payments and deduction of expenses

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Citation 17 U.S.C. § 1005 (2016)
Section Name §1005. Deposit of royalty payments and deduction of expenses
Section Text

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 Credit

(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.)

Editorial Notes 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."

Publication Title United States Code, 2012 Edition, Supplement 4, Title 17 - COPYRIGHTS
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 17 - COPYRIGHTS
Sec. 1005 - Deposit of royalty payments and deduction of expenses
Contains section 1005
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law Yes
Disposition standard
Statutes at Large References 106 Stat. 4242
107 Stat. 2312
Public Law References Public Law 102-563, Public Law 103-198
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