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23-35-804. Compensation of directors or committee members.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-35-804. Compensation of directors or committee members.
(a) With the exception of the treasurer of the credit union whom the board of directors of the credit union has specifically appointed or contracted to actually work in the credit union, no director or member of a credit committee or supervisory committee may receive compensation for performing the duties or responsibilities of the board or committee position to which the person was elected or appointed.
(b) For purposes of this section, the term “compensation” specifically excludes reasonable and proper costs incurred by or on behalf of an official whether on a reimbursement basis or paid directly by the credit union in carrying out the responsibilities of the position.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-35-804
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-35-804
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2bc0babd2a0464f4ba8a79a2230eb43fa365f812e8e03cbe584460659bc37cf5
Source location: content.xml paragraph 16891
Stored source content
23-35-804. Compensation of directors or committee members.
(a) With the exception of the treasurer of the credit union whom the board of directors of the credit union has specifically appointed or contracted to actually work in the credit union, no director or member of a credit committee or supervisory committee may receive compensation for performing the duties or responsibilities of the board or committee position to which the person was elected or appointed.
(b) For purposes of this section, the term “compensation” specifically excludes reasonable and proper costs incurred by or on behalf of an official whether on a reimbursement basis or paid directly by the credit union in carrying out the responsibilities of the position.
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