Section 725. Enforcement of fiduciary obligations

1. Where an officer or
  agent of a labor organization has violated or is violating  any  of  his
  obligations  provided  in  sections  seven  hundred twenty-two and seven
  hundred  twenty-three,  such   labor   organization   and   the   parent
  organization  of  such  labor  organization shall each have the right to
  bring an action or proceeding in any court of competent jurisdiction for
  legal or equitable relief to redress such violation of  obligation.  Any
  member  of  such  labor  organization shall have the right to bring such
  action or proceeding if (a) after request by any member that such action
  or proceeding be brought, such organization shall fail to do so, or  (b)
  such  request  would  be  futile, or (c) such organization has failed to
  prosecute diligently any such action or proceeding which it has brought.
    2. If any such action or proceeding is determined  in  favor  of  such
  organization  or  any  such  member, the court may award, in addition to
  other  costs  authorized  by  law,  reasonable   attorneys'   fees   and
  disbursements  out of any moneys awarded or funds or assets recovered in
  such action or proceeding.
    3. Any employer, employer organization, labor relations consultant, or
  other person who knowingly participated in or induced any conduct or act
  which violates any of the obligations of an officer or agent of a  labor
  organization  provided  in  sections  seven hundred twenty-two and seven
  hundred twenty-three, shall be  subject  to  the  same  liabilities  and
  judicial remedies as such officer or agent, including but not limited to
  joint  and  several  liability with such officer or agent for any losses
  suffered by the labor organization, or any member thereof, as  a  result
  of  any such violation of obligation, and joint and several liability to
  pay over to such labor organization or such member any gains or  profits
  made as a result of such knowing participation or inducement.
    4.  Each  wilful  and  knowing  violation  of any of the provisions of
  sections seven hundred twenty-three or seven hundred twenty-four of this
  article shall constitute a misdemeanor, punishable by  imprisonment  for
  not  more  than  one  year,  or  by a fine of not more than one thousand
  dollars, or by both.