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Content Last Revised: 12/27/63
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CFR  

Code of Federal Regulations Pertaining to U.S. Department of Labor

Title 29  

Labor

 

Chapter XXV  

Pension and Welfare Benefits Administration, Department of Labor

 

 

Part 2580  

Temporary Bonding Rules

 

 

 

Subpart C  

Amount of the Bond

29 CFR 2580.412-13 - The meaning of ``funds'' in determining the amount of the bond.

  • Section Number: 2580.412-13
  • Section Name: The meaning of ``funds'' in determining the amount of the bond. 
    The amount of the bond depends on the amount of ``funds'' 
``handled'', and shall be sufficient to provide bonding protection 
against risk of loss through fraud or dishonesty for all plan funds, 
including other property similar to funds or in the nature of funds. As 
such, the term ``funds'' shall be deemed to include and be equivalent to 
``funds and other property'' of the plan as described in Sec. 2580.412-
4. With respect to any item of ``funds or other property'' which does 
not have a cash or readily ascertainable market value, the value of such 
property may be estimated on such basis as will reasonably reflect the 
loss the plan might suffer if it were mishandled.
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