District of Columbia § 26-505.05 Compensation of officials.

District of Columbia Statutes

§ 26-505.05 — Compensation of officials.

District of Columbia § 26-505.05

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part ECredit Union Governance.

This text of District of Columbia § 26-505.05 (Compensation of officials.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-505.05 (2026).

Text

(1)A District credit union may compensate an officer, director, or committee member for the member's services to the District credit union.

(2)Life, health, accident, and similar insurance protection provided by a District credit union to an officer, director, or committee member shall not be considered compensation.

(b)A District credit union may reimburse directors, officers, and committee members for necessary expenses incidental to the performance of the official business of the District credit union.

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(1) A District credit union may compensate an officer, director, or committee member for the member's services to the District credit union.

(2) Life, health, accident, and similar insurance protection provided by a District credit union to an officer, director, or committee member shall not be considered compensation.

(b) A District credit union may reimburse directors, officers, and committee members for necessary expenses incidental to the performance of the official business of the District credit union.