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Code of Federal Regulations (Last Updated: May 6, 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 385 - Rates and Terms for Use of Nondramatic Musical Works in the Making and Distributing of Physical and Digital Phonorecords |
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Subpart A - Regulations of General Application |
§ 385.3 - Late payments.
Latest version.
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§ 385.3 Late payments.
A Licensee shall pay a late fee of 1.5% per month, or the highest lawful rate, whichever is lower, for any payment owed to a Copyright Owner and remaining unpaid after the due date established in 17 U.S.C. 115(c)(2)(I) or 17 U.S.C. 115(d)(4)(A)(i), as applicable and detailed in part 210 of this title. Late fees shall accrue from the due date until the Copyright Owner receives payment, except that where payment is due to the mechanical licensing collective under 17 U.S.C. 115(d)(4)(A)(i), late fees shall accrue from the due date until the mechanical licensing collective receives payment.
[89 FR 19274, Mar. 18, 2024]