Part 453. PART 453—GENERAL STATEMENT CONCERNING THE BONDING REQUIREMENTS OF THE LABOR-MANAGEMENT REPORTING AND DISCLOSURE ACT OF 1959

• Introduction

  • SECTION § 453.1 - Scope and significance of this part.

• Criteria for Determining Who Must Be Bonded

  • SECTION § 453.2 - Provisions of the statute.
  • SECTION § 453.3 - Labor organizations within the coverage of section 502(a).
  • SECTION § 453.4 - Trusts (in which a labor organization is interested) within the coverage of section 502(a).
  • SECTION § 453.5 - Officers, agents, shop stewards, or other representatives or employees of a labor organization.
  • SECTION § 453.6 - Officers, agents, shop stewards or other representatives or employees of a trust in which a labor organization is interested.
  • SECTION § 453.7 - “Funds or other property” of a labor organization or of a trust in which a labor organization is interested.
  • SECTION § 453.8 - Personnel who “handle” funds or other property.
  • SECTION § 453.9 - “Handling” of funds or other property by personnel functioning as a governing body.

• Scope of the Bond

  • SECTION § 453.10 - The statutory provision.
  • SECTION § 453.11 - The nature of the “duties” to which the bonding requirement relates.
  • SECTION § 453.12 - Meaning of fraud or dishonesty.

• Amount of Bonds

  • SECTION § 453.13 - The statutory provision.
  • SECTION § 453.14 - The meaning of “funds.”
  • SECTION § 453.15 - The meaning of funds handled “during the preceding fiscal year”.
  • SECTION § 453.16 - Funds handled by more than one person.
  • SECTION § 453.17 - Term of the bond.

• Form of Bonds

  • SECTION § 453.18 - Bonds “individual or schedule in form”.
  • SECTION § 453.19 - The designation of the “insured” on bonds.

• Qualified Agents, Brokers, and Surety Companies for the Placing of Bonds

  • SECTION § 453.20 - Corporate sureties holding grants of authority from the Secretary of the Treasury.
  • SECTION § 453.21 - Interests held in agents, brokers, and surety companies.

• Miscellaneous Provisions

  • SECTION § 453.22 - Prohibition of certain activities by unbonded persons.
  • SECTION § 453.23 - Persons becoming subject to bonding requirements during fiscal year.
  • SECTION § 453.24 - Payment of bonding costs.
  • SECTION § 453.25 - Effective date of the bonding requirement.
  • SECTION § 453.26 - Powers of the Secretary of Labor to exempt.