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29 U.S.C. § 503 29 u.s.c. · labor-management reporting and disclosur · title 29
29 U.S.C. § 503
Financial transactions between labor organization and officers and employees
Title 29 USC
● ACTIVE
Ch. 11
Jurisdiction Federal — United States
Chapter LABOR-MANAGEMENT REPORTING AND DISCLOSURE PROCEDURE
Primary Source uscode.house.gov ↗
Federation ID OM-USC29-SEC-833FD8
STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 29 - LABOR 29 U.S.C. United States Code, 2023 Edition 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 From the U.S. Government Publishing Office, www.gpo.gov

§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 fines No 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 violations Any 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.)

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 29 U.S.C. § 503 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
OakMorel Law
29 U.S.C.
Citation
29 U.S.C. § 503
Status
● ACTIVE
Chapter
11 — LABOR-MANAGEMENT REPORTING AND DISCLOSURE PROCEDURE
Title
Labor
Jurisdiction
Federal
Federation ID
OM-USC29-SEC-833FD8
Root-LD Spec
v1.0
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Labor — 29 U.S.C. § 503