29 CFR 453.24

§ 453.24 Payment of bonding costs.

United States · 29 CFR — Labor · Status: effective

Cite this

Citation: 29 CFR 453.24, § 453.24 Payment of bonding costs, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/125014
Permanent ID: ys:prov:125014@1
SHA-256: 484c4f0b28698c4f0da5af48c7a5c983c40fd83d8bb81224994895e399da1bce

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Full text

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.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.