32-3-406. Compensation of officials. (1) An official of the credit union, other than the treasurer or an employee, may not be compensated for service in that position.
(2) For the purposes of this section, the following payments are allowed and are not considered compensation:
(a) necessary expenses incidental to the performance of official business of the credit union; or
(b) reasonable life, health, accident, and similar insurance protection for an official.
History: En. 14-625 by Sec. 25, Ch. 38, L. 1975; R.C.M. 1947, 14-625; amd. Sec. 1044, Ch. 56, L. 2009; amd. Sec. 8, Ch. 317, L. 2015.
Structure Montana Code Annotated
Title 32. Financial Institutions
Part 4. Operation and Officers
32-3-403. Election or appointment of officials
32-3-404. Record of board and committee members
32-3-406. Compensation of officials
32-3-407. Conflicts of interest
32-3-409. Authority of directors
32-3-411. Meetings of board of directors and committees
32-3-416. Credit committee or credit manager duties
32-3-418. Suspension and removal of officials
32-3-419. Calling of special meeting