29 U.S.C. § 431 — Report of labor organizations

Page 122 TITLE 29—LABOR § 414 a labor organization under any State or Federal law or before any court or other tribunal, or under the constitution and bylaws of any labor organization. (Pub. L. 86–257, title I, § 103, Sept. 14, 1959, 73 Stat. 523.) § 414. Right to copies of collective bargaining agreements It shall be the duty of the secretary or cor- responding principal officer of each labor orga- nization, in the case of a local labor organiza- tion, to forward a copy of each collective bar- gaining agreement made by such labor organiza- tion with any employer to any employee who re- quests such a copy and whose rights as such em- ployee are directly affected by such agreement, and in the case of a labor organization other than a local labor organization, to forward a copy of any such agreement to each constituent unit which has members directly affected by such agreement; and such officer shall maintain at the principal office of the labor organization of which he is an officer copies of any such agreement made or received by such labor orga- nization, which copies shall be available for in- spection by any member or by any employee whose rights are affected by such agreement. The provisions of section 440 of this title shall be applicable in the enforcement of this section. (Pub. L. 86–257, title I, § 104, Sept. 14, 1959, 73 Stat. 523.) § 415. Information to members of provisions of chapter Every labor organization shall inform its members concerning the provisions of this chap- ter. (Pub. L. 86–257, title I, § 105, Sept. 14, 1959, 73 Stat. 523.) SUBCHAPTER III—REPORTING BY LABOR ORGANIZATIONS, OFFICERS AND EM- PLOYEES OF LABOR ORGANIZATIONS, AND EMPLOYERS § 431. Report of labor organizations (a) Adoption and filing of constitution and by- laws; contents of report Every labor organization shall adopt a con- stitution and bylaws and shall file a copy there- of with the Secretary, together with a report, signed by its president and secretary or cor- responding principal officers, containing the fol- lowing information— (1) the name of the labor organization, its mailing address, and any other address at which it maintains its principal office or at which it keeps the records referred to in this subchapter; (2) the name and title of each of its officers; (3) the initiation fee or fees required from a new or transferred member and fees for work permits required by the reporting labor orga- nization; (4) the regular dues or fees or other periodic payments required to remain a member of the reporting labor organization; and (5) detailed statements, or references to spe- cific provisions of documents filed under this subsection which contain such statements, showing the provision made and procedures followed with respect to each of the following: (A) qualifications for or restrictions on mem- bership, (B) levying of assessments, (C) par- ticipation in insurance or other benefit plans, (D) authorization for disbursement of funds of the labor organization, (E) audit of financial transactions of the labor organization, (F) the calling of regular and special meetings, (G) the selection of officers and stewards and of any representatives to other bodies composed of labor organizations’ representatives, with a specific statement of the manner in which each officer was elected, appointed, or other- wise selected, (H) discipline or removal of offi- cers or agents for breaches of their trust, (I) imposition of fines, suspensions, and expul- sions of members, including the grounds for such action and any provision made for notice, hearing, judgment on the evidence, and appeal procedures, (J) authorization for bargaining demands, (K) ratification of contract terms, (L) authorization for strikes, and (M) issuance of work permits. Any change in the informa- tion required by this subsection shall be re- ported to the Secretary at the time the report- ing labor organization files with the Secretary the annual financial report required by sub- section (b). (b) Annual financial report; filing; contents Every labor organization shall file annually with the Secretary a financial report signed by its president and treasurer or corresponding principal officers containing the following infor- mation in such detail as may be necessary accu- rately to disclose its financial condition and op- erations for its preceding fiscal year— (1) assets and liabilities at the beginning and end of the fiscal year; (2) receipts of any kind and the sources thereof; (3) salary, allowances, and other direct or in- direct disbursements (including reimbursed expenses) to each officer and also to each em- ployee who, during such fiscal year, received more than $10,000 in the aggregate from such labor organization and any other labor organi- zation affiliated with it or with which it is af- filiated, or which is affiliated with the same national or international labor organization; (4) direct and indirect loans made to any of- ficer, employee, or member, which aggregated more than $250 during the fiscal year, together with a statement of the purpose, security, if any, and arrangements for repayment; (5) direct and indirect loans to any business enterprise, together with a statement of the purpose, security, if any, and arrangements for repayment; and (6) other disbursements made by it including the purposes thereof; all in such categories as the Secretary may pre- scribe. (c) Availability of information to members; exam- ination of books, records, and accounts Every labor organization required to submit a report under this subchapter shall make avail- able the information required to be contained in Page 123 TITLE 29—LABOR § 432 such report to all of its members, and every such labor organization and its officers shall be under a duty enforceable at the suit of any member of such organization in any State court of com- petent jurisdiction or in the district court of the United States for the district in which such labor organization maintains its principal office, to permit such member for just cause to exam- ine any books, records, and accounts necessary to verify such report. The court in such action may, in its discretion, in addition to any judg- ment awarded to the plaintiff or plaintiffs, allow a reasonable attorney’s fee to be paid by the de- fendant, and costs of the action. (Pub. L. 86–257, title II, § 201(a)–(c), Sept. 14, 1959, 73 Stat. 524, 525.) Editorial Notes CODIFICATION Section is comprised of subsecs. (a) to (c) of section 201 of Pub. L. 86–257. Subsec. (d) of section 201 repealed subsecs. (f) to (h) of section 159 of this title, and subsec. (e) of section 201 amended section 158(a)(3)(i) of this title. § 432. Report of officers and employees of labor organizations (a) Filing; contents of report Every officer of a labor organization and every employee of a labor organization (other than an employee performing exclusively clerical or cus- todial services) shall file with the Secretary a signed report listing and describing for his pre- ceding fiscal year— (1) any stock, bond, security, or other inter- est, legal or equitable, which he or his spouse or minor child directly or indirectly held in, and any income or any other benefit with monetary value (including reimbursed ex- penses) which he or his spouse or minor child derived directly or indirectly from, an em- ployer whose employees such labor organiza- tion represents or is actively seeking to rep- resent, except payments and other benefits re- ceived as a bona fide employee of such em- ployer; (2) any transaction in which he or his spouse or minor child engaged, directly or indirectly, involving any stock, bond, security, or loan to or from, or other legal or equitable interest in the business of an employer whose employees such labor organization represents or is ac- tively seeking to represent; (3) any stock, bond, security, or other inter- est, legal or equitable, which he or his spouse or minor child directly or indirectly held in, and any income or any other benefit with monetary value (including reimbursed ex- penses) which he or his spouse or minor child directly or indirectly derived from, any busi- ness a substantial part of which consists of buying from, selling or leasing to, or other- wise dealing with, the business of an employer whose employees such labor organization rep- resents or is actively seeking to represent; (4) any stock, bond, security, or other inter- est, legal or equitable, which he or his spouse or minor child directly or indirectly held in, and any income or any other benefit with monetary value (including reimbursed ex- penses) which he or his spouse or minor child directly or indirectly derived from, a business any part of which consists of buying from, or selling or leasing directly or indirectly to, or otherwise dealing with such labor organiza- tion; (5) any direct or indirect business trans- action or arrangement between him or his spouse or minor child and any employer whose employees his organization represents or is ac- tively seeking to represent, except work per- formed and payments and benefits received as a bona fide employee of such employer and ex- cept purchases and sales of goods or services in the regular course of business at prices gen- erally available to any employee of such em- ployer; and (6) any payment of money or other thing of value (including reimbursed expenses) which he or his spouse or minor child received di- rectly or indirectly from any employer or any person who acts as a labor relations consult- ant to an employer, except payments of the kinds referred to in section 186(c) of this title. (b) Report of certain bona fide investments The provisions of paragraphs (1), (2), (3), (4), and (5) of subsection (a) shall not be construed to require any such officer or employee to report his bona fide investments in securities traded on a securities exchange registered as a national securities exchange under the Securities Ex- change Act of 1934 [15 U.S.C. 78a et seq.], in shares in an investment company registered under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.], or in securities of a public utility holding company registered under the Public Utility Holding Company Act of 1935, or to report any income derived therefrom. (c) Exemption from filing requirement Nothing contained in this section shall be con- strued to require any officer or employee of a labor organization to file a report under sub- section (a) unless he or his spouse or minor child holds or has held an interest, has received in- come or any other benefit with monetary value or a loan, or has engaged in a transaction de- scribed therein. (Pub. L. 86–257, title II, § 202, Sept. 14, 1959, 73 Stat. 525.) Editorial Notes REFERENCES IN TEXT The Securities Exchange Act of 1934, referred to in subsec. (b), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables. The Investment Company Act of 1940, referred to in subsec. (b), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, which is classified generally to subchapter I (§ 80a–1 et seq.) of chapter 2D of Title 15. For complete classi- fication of this Act to the Code, see section 80a–51 of Title 15 and Tables. The Public Utility Holding Company Act of 1935, re- ferred to in subsec. (b), is title I of act Aug. 26, 1935, ch. 687, 49 Stat. 803, which was classified generally to chap- ter 2C (§ 79 et seq.) of Title 15, Commerce and Trade, prior to repeal by Pub. L. 109–58, title XII, § 1263, Aug.