(a) Any labor organization required to file a report under the
provisions of this part, which during its fiscal year loses its
identity as a reporting labor organization through merger, consolidation,
or otherwise, shall, within 30 days after such loss, file a terminal
financial report with the Office of Labor-Management Standards, on Form
LM–2, LM–3, or LM–4, as may be appropriate, signed by the president and
treasurer or corresponding principal officers of the labor organization
immediately prior to the time of its loss of reporting identity.
(b) Every labor organization which has assumed trusteeship over a
subordinate labor organization shall file within 90 days after the
termination of such trusteeship on behalf of the subordinate labor
organization a terminal financial report with the Office of Labor-Management
Standards, on Form LM–2 and in conformance with the requirements of this part.
(c) For purposes of the reports required by paragraphs (a) and (b) of
this section, the period covered thereby shall be the portion of the labor
organization's fiscal year ending on the effective date of its loss of
reporting identity, or the portion of the subordinate labor organization's
fiscal year ending on the effective date of the termination of trusteeship
over such subordinate labor organization, as the case may be.
(d) If a labor organization filed or was required to file a report on a trust
pursuant to §403.2(d) and that trust loses its identity during its subsequent
fiscal year through merger, consolidation, or otherwise, the labor organization
shall, within 30 days after such loss, file a terminal report on Form T–1, with
the Office of Labor-Management Standards, signed by the president and treasurer
or corresponding principal officers of the labor organization. For purposes
of the report required by this paragraph, the period covered thereby shall
be the portion of the trust's fiscal year ending on the effective date of
the loss of its reporting identity.
[28 FR 14383, Dec. 27, 1963, as amended at 50 FR 31309, 31310, Aug. 1, 1985;
62 FR 6092, Feb. 10, 1997; 68 FR 58447, Oct. 9, 2003; 71 FR 57737, Sept. 29, 2006]
