7-9-24 - Compensation of directors, committee members, and president -- Expense reimbursement.
7-9-24. Compensation of directors, committee members, and president -- Expensereimbursement.
(1) A member of the board of directors, credit committee, or supervisory committee maynot receive any compensation for services as such, except that the reimbursement of reasonableexpenses incurred in the execution of the duties of the position may not be consideredcompensation.
(2) Any member of a credit union who incurs any expenses or performs any serviceauthorized by the board of directors may be compensated or reimbursed for the expenses orservices in an amount approved by the board of directors.
(3) The board of directors shall determine the compensation for a president appointed asgeneral manager.
Amended by Chapter 182, 1996 General Session