Content Last Revised: 12/27/63 ---DISCLAIMER---

CFR	Code of Federal Regulations Pertaining to U.S. Department of Labor

Title 29

Labor

Chapter IV

Office of Labor-Management Standards, Department of Labor

Part 453

General Statement Concerning the Bonding Requirements of the Labor-Management Reporting and Disclosure Act of 1959

• Section Number: 453.24
• Section Name: Payment of bonding costs.

    The Act does not prohibit payment of the cost of the bonds, required 
by section 502(a), by labor organizations or by trusts in which a labor 
organization is interested. The decision whether such costs are to be 
borne by the labor organization or trust or by the bonded person is left 
to the duly authorized
discretion and agreement of the parties concerned in each case.