ARTICLE XI.

Bonding 

Section 1.

Officers, Agents and Employees

To the extent required by law, every officer, agent, shop steward, employee or other representative of this Union who handles funds or other property of the organization shall be bonded for the faithful discharge of his/her duties in an amount not less than ten percent of the funds handled by him/her or his/her predecessor during the preceding fiscal year.  Provided, however, no person shall be bonded for an amount in excess of $500,000.00.  The amount of bond required of each person shall be determined by the Executive Board and the premium charges shall be paid out of the general funds of the Local Union.  Corporate surety bonds underwritten by companies holding grants of authority from the Untied States Secretary of the Treasury under the Act of July 30, 1947, shall be requisite.  Bonds shall be individual or schedule in form.

Section 2.

If the Executive Board, in its sole judgment, believes that it would be to the advantage of this organization to join with our International Union and/or any or all of its subordinate bodies or affiliated local unions in obtaining a bond or bonds covering persons in this and such other organizations, or to cover the persons in this Local Union under a bond or bonds issued to said International Union or other subordinate bodies, then, in such event, the Executive Board is authorized and empowered to enter into such arrangements and pay from the general funds of this Local Union the cost of bonding the persons in this Local Union.  But such surety coverage shall conform to the standards specified in Article XI, Section 1 above.

Section 3.

Should the bond of any person be refused upon application or cancelled after surety coverage has been afforded, then, in either event, such person shall be allowed sixty days within which to arrange for a bond.  In either event, the Union shall pay the premiums which do not exceed those which would have been charged for the coverage refused or cancelled.  But during this period of time, arrangements shall be made whereunder such person shall not be permitted to receive, handle, disburse, or otherwise exercise custody or control of the funds or other property of this organization.

Section 4.

If the person referred to in Article XI, Section 3 above has not arranged for a corporate surety bond at the end of said sixty day period, and if the membership so votes at a meeting preceding which notice was given that the question would be submitted to vote, he/she may remain in office or on his/her job if arrangements are made by the Executive Board whereunder he/she is not permitted to receive, handle, disburse or otherwise exercise custody or control of the funds or other property of this organization.

Section 5.

To the extent that the provisions of Article XI, Section 3 and 4 of this Article may conflict with other provisions of these By-Laws, said other provision shall be considered altered and amended to conform herewith.

Section 6.

Stewards

Shop or Industry Union Chairpersons, Shop or Industry Unit Secretaries and Shop Stewards shall not be bonded by the Local Union and are, therefore, not authorized to handle or collect any funds or other property of the Local Union, which shall include dues or other monies not checked off by the employers.  Said monies, if owed, shall be paid in person by the members owing same, at the office of the Local Union.