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Title 29 Part 453 → §453.26

Title 29 → Subtitle B → Chapter IV → Subchapter A → Part 453 → §453.26

Electronic Code of Federal Regulations e-CFR

Title 29 Part 453 → §453.26

e-CFR data is current as of September 18, 2019

Title 29Subtitle BChapter IVSubchapter APart 453 → §453.26


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


§453.26   Powers of the Secretary of Labor to exempt.

Section 502(a) of the Act provides that when in the opinion of the Secretary of Labor a labor organization has made other bonding arrangements which would provide the protection required at comparable cost or less, he may exempt such labor organization from placing a bond through a surety company holding a grant of authority from the Secretary of the Treasury under the Act of July 30, 1947 (6 U.S.C. 6-13), as acceptable surety on Federal bonds.

[30 FR 14926, Dec. 2, 1965]