508B.8 - PAYMENT OF FEES, SALARIES AND COSTS.

        508B.8  PAYMENT OF FEES, SALARIES AND COSTS.         A director, officer, agent or employee of the mutual company shall      not receive a fee, commission or other valuable consideration, other      than regular salary and compensation, for aiding, promoting or      assisting in the conversion except as set forth in the plan approved      by the commissioner.  This section does not prohibit the payment of      reasonable fees and compensation to a consultant, attorneys at law,      accountants, actuaries or other persons specifically employed for      services performed in the practice of their professions while      completing the plan of conversion, even if these persons are      directors of the mutual company.  
         Section History: Recent Form
         85 Acts, ch 127, §8