[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2580.412-1]

[Page 593-594]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2580_TEMPORARY BONDING RULES--Table of Contents
 
          Subpart A_Criteria for Determining Who Must Be Bonded
 
Sec. 2580.412-1  Statutory provisions.




          Subpart A_Criteria for Determining Who Must Be Bonded

Sec.
2580.412-1 Statutory provisions.
2580.412-2 Plans exempt from the coverage of section 13.
2580.412-3 Plan administrators, officers and employees for purposes of 
          section 13.
2580.412-4 ``Funds or other property'' of a plan.
2580.412-5 Determining when ``funds or other property'' belong to a 
          plan.
2580.412-6 Determining when ``funds or other property'' are ``handled'' 
          so as to require bonding.

                  Subpart B_Scope and Form of the Bond

2580.412-7 Statutory provision--scope of the bond.
2580.412-8 The nature of the duties or activities to which the bonding 
          requirement relates.
2580.412-9 Meaning of fraud or dishonesty.
2580.412-10 Individual or schedule or blanket form of bonds.

                      Subpart C_Amount of the Bond

2580.412-11 Statutory provision.
2580.412-12 Relationship of determining the amount of the bond to 
          ``handling''.
2580.412-13 The meaning of ``funds'' in determining the amount of the 
          bond.
2580.412-14 Determining the amount of funds ``handled'' during the 
          preceding reporting year.
2580.412-15 Procedures to be used for estimating the amount of funds to 
          be ``handled'' during the current reporting year in those 
          cases where there is no preceding reporting year.
2580.412-16 Amount of bond required in given types of bonds or where 
          more than one plan is insured in the same bond.
2580.412-17 Bonds over $500,000.

                      Subpart D_General Bond Rules

2580.412-18 Naming of insureds.
2580.412-19 Term of the bond, discovery period, other bond clauses.
2580.412-20 Use of existing bonds, separate bonds and additional 
          bonding.

Subpart E_Qualified Agents, Brokers and Surety Companies for the Placing 
                                of Bonds

2580.412-21 Corporate sureties holding grants of authority from the 
          Secretary of the Treasury.
2580.412-22 Interests held in agents, brokers and surety companies.

                          Subpart F_Exemptions

             Bonds Placed With Certain Reinsuring Companies

2580.412-23 Exemption.
2580.412-24 Conditions of exemption.

            Bonds Placed With Underwriters at Lloyds, London

2580.412-25 Exemption.
2580.412-26 Conditions of exemption.

           Banking Institutions Subject to Federal Regulation

2580.412-27 Exemption.
2580.412-28 Conditions of exemption.

       Savings and Loan Associations Subject to Federal Regulation

2580.412-29 Exemption.
2580.412-30 Conditions of exemption.

       Insurance Carriers, Service and Other Similar Organizations

2580.412-31 Exemption.
2580.412-32 Conditions of exemption.

 Subpart G_Prohibition Against Bonding by Parties Interested in the Plan

2580.412-33 Introductory statement.
2580.412-34 General.
2580.412-35 Disqualification of agents, brokers and sureties.
2580.412-36 Application of 13(c) to ``party in interest''.

    Authority: Sec. 505, Pub. L. 93-406, 88 Stat. 894 (29 U.S.C. 1135); 
sec. 412(e), Pub. L. 93-406, 88 Stat. 889 (29 U.S.C. 1112).

    Source: 28 FR 14403, Dec. 27, 1963, unless otherwise noted. 
Redesignated at 50 FR 26706, June 28, 1985.

[[Page 594]]



    Section 13(a) of the Welfare and Pension Plans Disclosure Act of 
1958, as amended, states, in part, that:

    Every administrator, officer and employee of any employee welfare 
benefit plan or of any employee pension benefit plan subject to this Act 
who handles funds or other property of such plan shall be bonded as 
herein provided; except that, where such plan is one under which the 
only assets from which benefits are paid are the general assets of a 
union or of an employer, the administrator, officers and employees of 
such plan shall be exempt from the bonding requirements of this section.
    * * * Such bond shall provide protection to the plan against loss by 
reason of acts of fraud or dishonesty on the part of such administrator, 
officer, or employee, directly or through connivance with others.