An Act to amend the bonding provisions of the Labor-Management Reporting and Disclosure Act of 1959 and the Welfare and Pension Plans Disclosure Act of 1959 and the Welfare and Pension Plans Disclosure Act
PL 89-216 (H.R.5883), enacted 09/29/1965

PUBLIC LAW 89-216-SEPT. 29, 1965 
[79 STAT. 
Public Law 89-216 
September 29, 1965 
A N 
A C T 
[H. R. 5883] 
To amend the bonding provisions of tlie liabor-Management Reporting and 
Disclosure Act of 1959 and the Welfare and Pension Plans Disclosure Act. 
Labor-Manage-
ment Reporting and 
Disclosure Act of 
1959, amendments. 
Bonding provi-
sions. 
73 Stat. 536. 
29 u s e 502. 
29 u s e 435. 
29 u s e 437. 
72 Stat. 997. 
29 u s e 301 
note. 
Be it enacted hy the Senate and House of RepresentaUves 
of the 
United States of America in Congress assembled^ That the first sen-
tence of section 502(a) of the Labor-Management Reporting and 
Disclosure Act of 1959 is amended by striking out "for the faithful 
discharge of his duties" and substituting therefor the following: "to 
provide protection against loss by reason of acts of fraud or dis-
honesty on his part directly or through connivance with others", and 
by inserting before the period at the end of such subsection the follow-
ing : ": Provided^ That when in the opinion of the Secretary a labor 
organization has made other bonding arrangements which would pro-
vide the protection required by this section at comparable cost or le^, 
he may exempt such labor organization from placing a bond through 
a surety company holding such grant of authority". 
SEC. 2. (a) Subsection (a) of section 205 of the Labor-Management 
Reporting and Disclosure Act is amended by striking out "and 203" 
and inserting in lieu thereof "203, and 211". 
(b) Subsection (b) of such section is amended by striking out "or 
203" and inserting in lieu thereof "203, or 211". 
(c) Subsection (c) of such section is amended by striking out 
"or 203" and inserting in lieu thereof "203, or 211". 
(d) Subsection (b) of section 207 of such Act is amended by strik-
ing out "or the second sentence of section 203 (b)" both times it appears 
and inserting in lieu thereof "the second sentence of section 203(b), 
or section 211". 
SEO. 3. Title II of the Labor-Management Reporting and Disclosure 
Act of 1959 is amended by adding at the end thereof the following 
new section: 
u 
SURETY COMPANY REPORTS 
"SEC. 211. Each surety company which issues any bond required 
by this Act or the "Welfare and Pension Plans Disclosure Act shall 
file annually with the Secretary, with respect to each fiscal year during 
which any such bond was in force, a report, in such form and detail as 
he may prescribe by regulation, filed by the president and treasurer 
or corresponding principal officers of the surety company, describing 
its bond experience under each such Act, including information as 
to the premiums received, total claims paid, amounts recovered by way 
of subrogation, administrative and legal expenses and such related data 
and information as the Secretary shall determine to be necessary in 
the public interest and to carry out the policy of the Act. Notwith-
standing the foregoing, if the Secretary finds that any such specific 
information cannot be practicably ascertained or would be uninforma-
tive, the Secretary may modify or waive the requirement for such 
information." 
Approved September 29, 1965.