§ 2.4. Bonus and incentive plans.
62 words·~1 min read·
/us/cfr/t12/s§ 2.4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A bank employee or officer may participate in a bonus or incentive plan based on the sale of credit life insurance if payments to the employee or officer in any one year do not exceed the greater of:
(a)Five percent of the recipient's annual salary; or
(b)Five percent of the average salary of all loan officers participating in the plan.