29-U.S.C.-503

§503 – Financial Transactions Between Labor Organization and officers and Employees

Pathway

Title 29 > Chapter 11 > Subchapter VI > Section 503

Details

• Reference: Section 503
• Legend: §503 – Financial Transactions Between Labor Organization and officers and Employees
• USCode Year: 2013

Provision Content

(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.)

U.S. Encyclopedia of Law Coverage

Subchapter VI – Safeguards For Labor Organizations in the Legal Encyclopedia: Labor

In this entry about Subchapter VI – Safeguards For Labor Organizations, find legal reference material, bibliographies and premiere content related to labor in the American Encyclopedia of Law, presenting a comprehensive view of the United States labor-specific issues, written by authorities in the field.

29-U.S.C.-433 in the Legal Encyclopedia: Labor Management

In this entry about 29-U.S.C.-433, find legal reference material, bibliographies and premiere content related to labor management in the American Encyclopedia of Law, presenting a comprehensive view of the United States labor management-specific issues, written by authorities in the field.

Topic Map

• Browse the Topic Map in relation with Title 29 (Labor) guided by subject interests.