§ 708a.111. Limit on compensation of officials.
62 words·~1 min read·
/us/cfr/t12/s§ 708a.111·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No director or senior management official of an insured credit union may receive any economic benefit in connection with the conversion of a credit union other than compensation and other benefits paid to directors or senior management officials of the converted institution in the ordinary course of business. [71 FR 77167, Dec. 22, 2006. Redesignated at 75 FR 81386, Dec. 28, 2010]