Page:Hatch-Goodlatte Act.pdf/16

132 STAT. 3690 :::“(iii) —The board of directors shall meet not less frequently than biannually and discuss matters pertinent to the operations of the mechanical licensing collective, including the mechanical licensing collective budget.
 * “(iv) —The board of directors of the mechanical licensing collective shall establish an operations advisory committee consisting of not fewer than 6 members to make recommendations to the board of directors concerning the operations of the mechanical licensing collective, including the efficient investment in and deployment of information technology and data resources. Such committee shall have an equal number of members of the committee who are—
 * “(I) musical work copyright owners who are appointed by the board of directors of the mechanical licensing collective; and
 * “(II) representatives of digital music providers who are appointed by the digital licensee coordinator.
 * “(v) —The board of directors of the mechanical licensing collective shall establish and appoint an unclaimed royalties oversight committee consisting of 10 members, 5 of which shall be musical work copyright owners and 5 of which shall be professional songwriters whose works are used in covered activities.
 * “(vi) —The board of directors of the mechanical licensing collective shall establish and appoint a dispute resolution committee that shall—
 * “(I) consist of not fewer than 6 members; and
 * “(II) include an equal number of representatives of musical work copyright owners and professional songwriters.
 * “(vii) —
 * “(I) —Not later than June 30 of each year commencing after the license availability date, the mechanical licensing collective shall post, and make available online for a period of not less than 3 years, an annual report that sets forth information regarding—
 * “(aa) the operational and licensing practices of the collective;
 * “(bb) how royalties are collected and distributed;
 * “(cc) budgeting and expenditures;
 * “(dd) the collective total costs for the preceding calendar year;
 * “(ee) the projected annual mechanical licensing collective budget;
 * “(ff) aggregated royalty receipts and payments;