[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: 29CFR453.24]

[Page 211]
 
                             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. 453.24  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.