Section 3(l) of the Act defines a trust in which a labor
organization is interested as:
* * * a trust or other fund or organization (1) which was created or
established by a labor organization, or one or more of the trustees or
one or more members of the governing body of which is selected or
appointed by a labor organization, and (2) a primary purpose of which is
to provide benefits for the members of such labor organization or their
beneficiaries.
Both the language and the legislative history \4\ make it clear that
this definition covers pension funds, health and welfare funds, profit
sharing funds, vacation funds, apprenticeship and training funds, and
funds or trusts of a similar nature which exist for the purpose of, or
have as a primary purpose, the providing of the benefits specified in
the definition. This is so regardless of whether these trusts, funds, or
organizations are administered solely by labor organizations, or jointly
by labor organizations and employers, or by a corporate trustee, unless
they were neither created or established by a labor organization nor
have any trustee or member of the governing body who was selected or
appointed by a labor organization.
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\4\ Daily Cong. Rec., pp. 5858-59, Senate, April 23, 1959.
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