32-3-406. Compensation of officials. An officer, director, or committee member, other than the treasurer, a credit manager, or a loan officer may not be compensated for service in that position, but reasonable life, health, accident, and similar insurance protection for a director or committee member may not be considered compensation. Directors and committee members, while on official business of the credit union, may be reimbursed for necessary expenses incidental to the performance of the business.

     History: En. 14-625 by Sec. 25, Ch. 38, L. 1975; R.C.M. 1947, 14-625; amd. Sec. 1044, Ch. 56, L. 2009.