Sec. 06.15.100. Prohibited conduct of trustees.
108 words·~1 min read·
/ak/title-6/chapter-15/06-15-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 06.15.100. Prohibited conduct of trustees.
A trustee may not
(1)receive remuneration as trustee except reasonable fees for attendance at meetings of trustees or for services as a member of a committee of trustees;
(2)use the position as trustee, or knowingly allow it to be used, to obtain preferential terms in dealings with the mutual bank for which the person is trustee;
(3)use the position as trustee, or knowingly allow it to be used, to induce an actual or prospective borrower from the mutual bank for which the person is trustee to purchase goods or services at a direct or indirect profit to the trustee.