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2020 SESSION
HB 813 Credit unions; board of directors compensation.
Introduced by: Jeion A. Ward | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Credit unions; director compensation. Provides that compensation of members of a credit union's board of directors and members of the credit and supervisory committees shall be determined by a written policy approved by the board of directors, provided that annual compensation for an individual member does not exceed $6,000. The measure removes the existing prohibition on compensating members of a credit union's board of directors for services as a member of the board. This bill is identical to SB 296.
SUMMARY AS INTRODUCED:
Credit unions; director compensation. Provides that compensation of members of a credit union's board of directors and members of the credit and supervisory committees, including reimbursement for business-related travel, shall be determined by a written policy approved by the board of directors. The measure removes the existing prohibition on compensating members of a credit union's board of directors for services as a member of the board.