[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: 29CFR2580.412-20]

[Page 605]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2580_TEMPORARY BONDING RULES--Table of Contents
 
                      Subpart D_General Bond Rules
 
Sec. 2580.412-20  Use of existing bonds, separate bonds and additional 
bonding.

    (a) Additional bonding. Section 13 neither prevents additional 
bonding beyond that required by its terms, nor prescribes the form in 
which additional coverage may be taken. Thus, so long as a particular 
bond meets the requirements of the regulations in this part as to the 
persons required to be bonded and provides coverage for such persons in 
at least the minimum required amount, additional coverage as to persons 
or amount may be taken in any form, either on the same or separate bond.
    (b) Use of existing bonds. Insofar as a bond currently in use is 
adequate to meet the requirements of the Act and the regulations in this 
part or may be made adequate to meet these requirements through rider, 
modification or separate agreement between the parties, no further 
bonding is required.
    (c) Use of separate bonds. The choice of whether persons required to 
be bonded should be bonded separately or under the same bond, whether 
given plans should be bonded separately or under the same bond, whether 
existing bonds should be used or separate bonds for Welfare and Pension 
Plans Disclosure Act bonding should be obtained, or whether the bond is 
underwritten by a single surety company or more than one surety company, 
either separately or on a cosurety basis, is left to the judgment of the 
parties concerned, so long as the bonding program adopted meets the 
requirements of the Act and the regulations in this part.