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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 37 - Patents, Trademarks, and Copyrights |
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Chapter III - Copyright Royalty Board, Library of Congress |
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SubChapter E - Rates and Terms for Statutory Licenses |
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Part 380 - Rates and Terms for Transmissions by Eligible Nonsubscription Services and New Subscription Services and for the Making of Ephemeral Reproductions to Facilitate Those Transmissions |
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Subpart D - Public Broadcasters |
§ 380.37 - Unclaimed funds.
Latest version.
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§ 380.37 Unclaimed funds.
If the Collective is unable to identify or locate a Copyright Owner or Performer who is entitled to receive a royalty distribution under this subpart, the Collective shall retain the required payment in a segregated trust account for a period of 3 years from the date of distribution. No claim to such distribution shall be valid after the expiration of the 3-year period. After expiration of this period, the Collective may apply the unclaimed funds to offset any costs deductible under 17 U.S.C. 114(g)(3). The foregoing shall apply notwithstanding the common law or statutes of any State.