North Carolina § 54-109.38 Compensation of officials

North Carolina Statutes

§ 54-109.38 — Compensation of officials

North Carolina § 54-109.38

Ch. 54Cooperative Organizations

Art. 14EDirection of Affairs

Subch. IIICREDIT UNIONS

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Bluebook

N.C. Gen. Stat. § 54-109.38 (2026).

Text

No member of the board of directors or of the credit committee or supervisory committee shall be compensated for his service in this position, but providing reasonable life, health, accident and similar insurance protection for a director or committee member shall not be considered compensation. Directors and committee members, while on official business of the credit union, may be reimbursed for necessary and reasonable expenses incidental to the performance of the business. Such reimbursement may include the payment of expenses for one guest. (1975, c. 538, s. 1; 2015-93, s. 5.)

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No member of the board of directors or of the credit committee or supervisory committee shall be compensated for his service in this position, but providing reasonable life, health, accident and similar insurance protection for a director or committee member shall not be considered compensation. Directors and committee members, while on official business of the credit union, may be reimbursed for necessary and reasonable expenses incidental to the performance of the business. Such reimbursement may include the payment of expenses for one guest. (1975, c. 538, s. 1; 2015-93, s. 5.)