The term “fraud or dishonesty” shall be deemed to encompass all those risks of loss that might arise through dishonest or fraudulent acts in handling of funds as delineated in §§ 453.8 and 453.9. As such, the bond must provide recovery for loss occasioned by such acts even though no personal gain accrues to the person committing the act and the act is not subject to punishment as a crime or misdemeanor, provided that within the law of the State in which the act is committed, a court would afford recovery under a bond providing protection against fraud or dishonesty. As usually applied under State laws, the term “fraud or dishonesty” encompasses such matters as larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction, wrongful conversion, willful misapplication or any other fraudulent or dishonest acts resulting in financial loss.
[30 FR 14926, Dec. 2, 1965]
Notes of Decisions
Evans-Gadsden v. Bernstein Litowitz Berger & Grossman, LLP, 491 F. Supp. 2d 386 (S.D.N.Y. 2007).
“Plaintiff did attempt to assert a fraud claim as part of her proposed second amended complaint, but that proposed claim was made pursuant to 29 C.F.R. § 453.12 , whereas the fraud allegation in her cross-motion for summary judgment purportedly arises out of the crime/fraud…”
Nyla Dazhane Gilmore Est. v. Coleman (W.D. Okla. 2024).
· cites it 2× “§ 6503 , governs certain contracts made by agencies of the federal government, and the cited regulation, 29 C.F.R. § 453.12 , governs bonding requirements of the Labor Management Reporting and Disclosure Act, 29 U.”
Skirlick v. Patco, 659 F. Supp. 104 (D.D.C. 1987).
“29 C.F.R. § 453.12 (emphasis supplied). Nothing, therefore, in the statute itself nor in its implementing regulations supports a broad reading of “fraud or dishonesty” to cover the actions of union leaders in engaging in a strike, even though the strike was illegal.”
L'Evation Birthing Circle Ministries v. Coleman (W.D. Okla. 2023).
“§ 6503 , governs certain contracts made by agencies of the federal government, and the cited regulation, 29 C.F.R. § 453.12 , governs bonding requirements of the Labor Management Reporting 1 Federal courts “have an independent obligation to determine whether subject-matter…”
Mikha El v. Coleman (W.D. Okla. 2023).
“§ 6503 , governs certain contracts made by agencies of the federal government, and the cited regulation, 29 C.F.R. § 453.12 , governs bonding requirements of the Labor Management Reporting and Disclosure Act, 29 U.”
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