[Code of Federal Regulations]
[Title 29, Volume 2]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR453.11]

[Page 206-207]
 
                             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--Table of Contents
 
Sec. 453.11  The nature of the ``duties'' to which the bonding requirement 
relates.

    The bonding requirement in section 502(a) relates only to duties of 
the specified personnel in connection with their handling of funds or 
other property to

[[Page 207]]

which this section refers. It does not have reference to the special 
duties imposed upon representatives of labor organizations by virtue of 
the positions of trust which they occupy, which are dealt with in 
section 501(a), and for which civil remedies for breach of the duties 
are provided in section 501(b). The fact that the bonding requirement is 
limited to personnel who handle funds or other property indicates the 
correctness of these conclusions. They find further support in the 
differences between sections 501(a) and 502(a) of the Act which 
sufficiently indicate that the scope of the two sections is not 
coextensive.