17 USC 1005
Deposit of royalty payments and deduction of expenses

Executive summary:

This document contains one section of the U.S. Copyright Act (found in Title 17 of the United States Code). This page was last updated in October 2005. All of the sections of the Copyright Act are listed on the Index page.

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§1005. Deposit of royalty payments and deduction of expenses

The Register of Copyrights shall receive all royalty payments deposited under this chapter [17 USC § §1001 et seq.] and, after deducting the reasonable costs incurred by the Copyright Office under this chapter [17 USC § §1001 et seq.], 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 [17 USC 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.