CFR > Title 29 - Labor > SUBTITLE B—Regulations Relating to Labor > CHAPTER IV—OFFICE OF LABOR-MANAGEMENT STANDARDS, DEPARTMENT OF LABOR (parts 401 to 471) > SUBCHAPTER A—LABOR-MANAGEMENT STANDARDS (parts 401 to 453) > 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).

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 Act 3 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.

Code of Federal Regulations

Footnote(s): 3 See part 451 of this chapter .