§ 725 — Enforcement of fiduciary obligations

New York § 725

• Jurisdiction: New York
• Law LAB: Labor
• Art. 20-A: Labor and Management Improper Practices Act

Text

§ 725. Enforcement of fiduciary obligations. 1. Where an officer or\nagent of a labor organization has violated or is violating any of his\nobligations provided in sections seven hundred twenty-two and seven\nhundred twenty-three, such labor organization and the parent\norganization of such labor organization shall each have the right to\nbring an action or proceeding in any court of competent jurisdiction for\nlegal or equitable relief to redress such violation of obligation. Any\nmember of such labor organization shall have the right to bring such\naction or proceeding if (a) after request by any member that such action\nor proceeding be brought, such organization shall fail to do so, or (b)\nsuch request would be futile, or (c) such organization has failed to\nprosecute diligently any such action or proceeding which it has brought.\n 2. If any such action or proceeding is determined in favor of such\norganization or any such member, the court may award, in addition to\nother costs authorized by law, reasonable attorneys' fees and\ndisbursements out of any moneys awarded or funds or assets recovered in\nsuch action or proceeding.\n 3. Any employer, employer organization, labor relations consultant, or\nother person who knowingly participated in or induced any conduct or act\nwhich violates any of the obligations of an officer or agent of a labor\norganization provided in sections seven hundred twenty-two and seven\nhundred twenty-three, shall be subject to the same liabilities and\njudicial remedies as such officer or agent, including but not limited to\njoint and several liability with such officer or agent for any losses\nsuffered by the labor organization, or any member thereof, as a result\nof any such violation of obligation, and joint and several liability to\npay over to such labor organization or such member any gains or profits\nmade as a result of such knowing participation or inducement.\n 4. Each wilful and knowing violation of any of the provisions of\nsections seven hundred twenty-three or seven hundred twenty-four of this\narticle shall constitute a misdemeanor, punishable by imprisonment for\nnot more than one year, or by a fine of not more than one thousand\ndollars, or by both.\n