29 U.S.C. § 1414 — Asset transfer rules
submitted 46 years ago by Pub. L. 93-406 to r/title-29-LABOR · 163 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
A transfer of assets from a multiemployer plan* to another plan shall comply with asset-transfer rules which shall be adopted by the multiemployer plan and which—
do not unreasonably restrict the transfer of plan assets in connection with the transfer of plan liabilities, and
operate and are applied uniformly with respect to each proposed transfer, except that the rules may provide for reasonable variations taking into account the potential financial impact of a proposed transfer on the multiemployer plan.
Plan rules authorizing asset transfers consistent with the requirements of section 1412(c)(3) of this title shall be considered to satisfy the requirements of this subsection.
The corporation shall prescribe regulations which exempt de minimis transfers of assets from the requirements of this part.
This part shall not apply to transfers of assets pursuant to written reciprocity agreements, except to the extent provided in regulations prescribed by the corporation.
Source credit: (Pub. L. 93–406, title IV, § 4234, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1247.)
- 1980Enacted · Pub. L. 93-406 · 94 Stat. 1247
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-406 on 1980-09-26.
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