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Federal Register / Vol. 86, No. 205 / Wednesday, October 27, 2021 / Rules and Regulations 1 Such information as is necessary to calculate the accompanying royalty payment;
2 The name, address, business title, telephone number, facsimile number if any, electronic mail address if any and other contact information of the person to be contacted for information or questions concerning the content of the Statement of Account;
3 The account number assigned to the Licensee by the Collective for the relevant service offering if the Licensee has been notified of such account number by the Collective;
4 The signature of:
i The Licensee or a duly authorized agent of Licensee;
ii A partner or delegate if the Licensee is a partnership; or iii An officer of the corporation if the Licensee is a corporation.
5 The printed or typewritten name of the person signing the Statement of Account;
6 If the Licensee is a partnership or corporation, the title or official position held in the partnership or corporation by the person signing the Statement of Account;
7 A certification of the capacity of the person signing;
8 The date of signature; and 9 An attestation to the following effect: I, the undersigned owner/officer/
partner/agent of the Licensee have examined this Statement of Account and hereby state that it is true, accurate, and complete to my knowledge after reasonable due diligence and that it fairly presents, in all material respects, the liabilities of the Licensee pursuant to 17 U.S.C. 112e and 114 and applicable regulations adopted under those sections.
b Certification. Licensees Chief Financial Officer or, if Licensee does not have a Chief Financial Officer, a person authorized to sign Statements of Account for the Licensee must submit a signed certification on an annual basis attesting that Licensees royalty statements for the prior year represent a true and accurate determination of the royalties due and that any method of allocation employed by Licensee was applied in good faith and in accordance with U.S. GAAP.

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380.4

Distributing royalty fees.

a Distribution of royalties. 1 The Collective must promptly distribute royalties received from Licensees to Copyright Owners and Performers that are entitled thereto, or to their designated agents. The Collective shall only be responsible for making distributions to those who provide the Collective with information as is
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necessary to identify and pay the correct recipient. The Collective must distribute royalties on a basis that values all performances by a Licensee equally based upon the information provided under the Reports of Use requirements for Licensees pursuant to 370.4 of this chapter and this subpart.
2 The Collective must use its best efforts to identify and locate copyright owners and featured artists in order to distribute royalties payable to them under sec. 112e or 114d2 of title 17, United States Code, or both. Such efforts must include, but not be limited to, searches in Copyright Office public records and published directories of sound recording copyright owners.
b 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 part, the Collective must retain the required payment in a segregated trust account for a period of three years from the date of the first distribution of royalties from the relevant payment by a Licensee. No claim to distribution shall be valid after the expiration of the three-year period.
After expiration of this period, the Collective may apply the unclaimed funds to offset any costs deductible under 17 U.S.C. 114g3.
c Retention of records. Licensees and the Collective shall keep books and records relating to payments and distributions of royalties for a period of not less than the prior three calendar years.
d Designation of the Collective. 1
The Judges designate SoundExchange, Inc., as the Collective to receive Statements of Account and royalty payments from Licensees and to distribute royalty payments to each Copyright Owner and Performer or their respective designated agents entitled to receive royalties under 17
U.S.C. 112e or 114g.
2 If SoundExchange, Inc. should dissolve or cease to be governed by a board consisting of equal numbers of representatives of Copyright Owners and Performers, then it shall be replaced for the applicable royalty term by a successor Collective according to the following procedure:
i The nine Copyright Owner representatives and the nine Performer representatives on the SoundExchange board as of the last day preceding SoundExchanges cessation or dissolution shall vote by a majority to recommend that the Copyright Royalty Judges designate a successor and must file a petition with the Copyright Royalty Judges requesting that the
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Judges designate the named successor and setting forth the reasons therefor.
ii Within 30 days of receiving the petition, the Copyright Royalty Judges must issue an order designating the recommended Collective, unless the Judges find good cause not to make and publish the designation in the Federal Register.
380.5

Handling Confidential Information.

a Definition. For purposes of this part, Confidential Information means the Statements of Account and any information contained therein, including the amount of royalty payments and the number of Performances, and any information pertaining to the Statements of Account reasonably designated as confidential by the party submitting the statement.
Confidential Information does not include documents or information that at the time of delivery to the Collective is public knowledge. The party seeking information from the Collective based on a claim that the information sought is a matter of public knowledge shall have the burden of proving to the Collective that the requested information is in the public domain.
b Use of Confidential Information.
The Collective may not use any Confidential Information for any purpose other than royalty collection and distribution and activities related directly thereto.
c Disclosure of Confidential Information. The Collective shall limit access to Confidential Information to:
1 Those employees, agents, consultants, and independent contractors of the Collective, subject to an appropriate written confidentiality agreement, who are engaged in the collection and distribution of royalty payments hereunder and activities related directly thereto who require access to the Confidential Information for the purpose of performing their duties during the ordinary course of their work;
2 A Qualified Auditor or outside counsel who is authorized to act on behalf of:
i The Collective with respect to verification of a Licensees statement of account pursuant to this part; or ii A Copyright Owner or Performer with respect to the verification of royalty distributions pursuant to this part;
3 Copyright Owners and Performers, including their designated agents, whose works a Licensee used under the statutory licenses set forth in 17 U.S.C.
112e and 114 by the Licensee whose Confidential Information is being supplied, subject to an appropriate
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