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2019 US Code
Title 29 - Labor
Chapter 11 - Labor-Management Reporting and Disclosure Procedure
Subchapter VI - Safeguards for Labor Organizations
Sec. 503 - Financial transactions between labor organization and officers and employees
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| 29 U.S.C. § 503 (2019) |
| §503. Financial transactions between labor organization and officers and employees |
|
(a) Direct and indirect loans
No labor organization shall make directly or indirectly any loan or loans to any officer or employee of such organization which results in a total indebtedness on the part of such officer or employee to the labor organization in excess of $2,000. (b) Direct or indirect payment of finesNo labor organization or employer shall directly or indirectly pay the fine of any officer or employee convicted of any willful violation of this chapter. (c) Penalty for violationsAny person who willfully violates this section shall be fined not more than $5,000 or imprisoned for not more than one year, or both. |
|
(Pub. L. 86–257, title V, §503, Sept. 14, 1959, 73 Stat. 536.) |
| United States Code, 2018 Edition, Supplement 1, Title 29 - LABOR |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 29 - LABOR CHAPTER 11 - LABOR-MANAGEMENT REPORTING AND DISCLOSURE PROCEDURE SUBCHAPTER VI - SAFEGUARDS FOR LABOR ORGANIZATIONS Sec. 503 - Financial transactions between labor organization and officers and employees |
| section 503 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 73 Stat. 536 |
| Public Law 86-257 |
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