
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 17USC1005]

 
                          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

    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.

(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.)


                               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.''

                  Section Referred to in Other Sections

    This section is referred to in sections 801, 1006, 1009 of this 
title.
