Must the funds of a trust be included in determining the required amount of the labor organizations bond?
A. If the officers and employees of a trust are covered by the labor organization’s bond, then the funds of the trust must be included in determining the required amount of the labor organization’s bond, even if the trust is “nonsignificant,” that is, not one for which a labor organization must file a Form T-1. If the trust has a separate bond, the trust’s funds are not included in determining the required amount of the labor organization’s bond.
