(a)
Section 502(a) requires that:
(b)
This section sets forth, in the above language and in its further provisions, the minimum requirements regarding the bonding of the specified personnel. There is no provision in the Act which precludes the bonding of such personnel in amounts exceeding those specified in section 502(a). Similarly, the Act contains no provision precluding the bonding of such personnel as are not required to be bonded by this section. Such excess coverage may be in any amount and in any form otherwise lawful and acceptable to the parties to such bonds.
Code of Federal Regulations
[28 FR 14394, Dec. 27, 1963, as amended at 30 FR 14925, Dec. 2, 1965]