29 CFR 453.12
§ 453.12 Meaning of fraud or dishonesty.
United States · 29 CFR — Labor · Status: effective
Cite this
- Citation
- 29 CFR 453.12, § 453.12 Meaning of fraud or dishonesty, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/125002
- Permanent ID
ys:prov:125002@1- SHA-256
ea9550db6a60e6832f9ad1d99f2dd9941318e64752fb1d9c7fdb29b61c64f4bb
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The term “fraud or dishonesty” shall be deemed to encompass all those risks of loss that might arise through dishonest or fraudulent acts in handling of funds as delineated in §§ 453.8 and 453.9. As such, the bond must provide recovery for loss occasioned by such acts even though no personal gain accrues to the person committing the act and the act is not subject to punishment as a crime or misdemeanor, provided that within the law of the State in which the act is committed, a court would afford recovery under a bond providing protection against fraud or dishonesty. As usually applied under State laws, the term “fraud or dishonesty” encompasses such matters as larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction, wrongful conversion, willful misapplication or any other fraudulent or dishonest acts resulting in financial loss.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.