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Title 29 Part 453 → §453.3

Title 29 → Subtitle B → Chapter IV → Subchapter A → Part 453 → §453.3

Electronic Code of Federal Regulations e-CFR

Title 29 Part 453 → §453.3

e-CFR data is current as of October 19, 2018

Title 29Subtitle BChapter IVSubchapter APart 453 → §453.3


Title 29: Labor
PART 453—GENERAL STATEMENT CONCERNING THE BONDING REQUIREMENTS OF THE LABOR-MANAGEMENT REPORTING AND DISCLOSURE ACT OF 1959


§453.3   Labor organizations within the coverage of section 502(a).

Any labor organization as defined in sections 3(i) and 3(j) of the Act3 is a labor organization within the coverage of section 502(a) unless its property and annual financial receipts do not exceed $5,000 in value. The determination as to whether a particular labor organization is excepted from the application of section 502(a) is to be made at the beginning of each of its fiscal years on the basis of the total value of all its property at the beginning of, and its total financial receipts during, the preceding fiscal year of the organization.

3See part 451 of this chapter.