186.12 Compensation of officers, operation expenses.
186.12
186.12 Compensation of officers, operation expenses.186.12(1)
(1) Board members. No member of the board of directors may receive any compensation for services as a member of the board other than reasonable health, accident and similar insurance.186.12(3)
(3) Expenditures. The officers elected by the board of directors, the members of the credit committee and loan officers may receive such compensation as the board authorizes, but the expenditures of the credit union for all purposes shall be paid from its earnings.186.12 - ANNOT.
History: 1971 c. 193; 1983 a. 369; 1995 a. 151; 1997 a. 152.