§2580.412-7. Statutory provision—scope of the bond.
29 C.F.R. § 2580.412-7
The statute requires that the bond shall provide protection to the plan against loss by reason of acts of fraud or dishonesty on the part of a plan administrator, officer, or employee, directly or through connivance with others.
Notes, amendments, and revision history
Authority
Authority: Sec. 505, Pub. L. 93-406, 88 Stat. 894 (29 U.S.C. 1135); sec. 412(e), Pub. L. 93-406, 88 Stat. 889 (29 U.S.C. 1112).
Source
Source: 28 FR 14403, Dec. 27, 1963, unless otherwise noted. Redesignated at 50 FR 26706, June 28, 1985.