29 C.F.R. § 453.4 Trusts (in which a labor organization is interested) within the coverage of section 502(a).
Title 29 - Labor
Section 3(l) of the Act defines a trust in which a labor organization is interested as:
* * * a trust or other fund or organization (1) which was created or established by a labor organization, or one or more of the trustees or one or more members of the governing body of which is selected or appointed by a labor organization, and (2) a primary purpose of which is to provide benefits for the members of such labor organization or their beneficiaries. Both the language and the legislative history4 4 Daily Cong. Rec., pp. 5858–59, Senate, April 23, 1959.
Title 29: Labor
PART 453—GENERAL STATEMENT CONCERNING THE BONDING REQUIREMENTS OF THE LABOR-MANAGEMENT REPORTING AND DISCLOSURE ACT OF 1959
Criteria for Determining Who Must Be Bonded
§ 453.4 Trusts (in which a labor organization is interested) within the coverage of section 502(a).