503 - Financial transactions between labor organization and officers and employees

(a) Direct and indirect loans. - No labor organization shall make directly or indirectly any loan or loans to any officer or employee of such organization which results in a total indebtedness on the part of such officer or employee to the labor organization in excess of $2,000.

(b) Direct or indirect payment of fines. - No labor organization or employer shall directly or indirectly pay the fine of any officer or employee convicted of any willful violation of this chapter.