[Code of Federal Regulations]
[Title 29, Volume 3]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR548.401]

[Page 263]
 
                             TITLE 29--LABOR
 
         CHAPTER V--WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR
 
PART 548_AUTHORIZATION OF ESTABLISHED BASIC RATES FOR COMPUTING OVERTIME 
PAY--Table of Contents
 
                        Subpart B_Interpretations
 
Sec. 548.401  Agreement or understanding.

    If the agreement or understanding establishing the basic rate is in 
writing, whether incorporated in a collective bargaining agreement or 
not, a copy of the agreement or understanding should be attached to the 
application. If it is not in writing, however, the application to the 
Administrator for approval of a basic rate should contain a written 
statement describing the substance of the agreement or understanding, 
including the proposed effective date and term of the agreement or 
understanding. The term of the agreement or understanding may be of 
definite duration, or may run indefinitely until modified or changed. If 
an agreement or understanding is modified, a new application for 
authorization should be made. \19\
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    \19\ See Sec. 548.200 for a further explanation of the requirements 
as to the agreement or understanding establishing the basic rate.

[20 FR 5683, Aug. 6, 1955, as amended at 21 FR 338, Jan. 18, 1956]