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1 Banks and Banking; Loan Associations; Credit Unions; Compensation RSA 383-E:6-607(a) is repealed and reenacted to read as follows:
(a) Any credit union may pay to each of the members of the board of directors, credit committee, and supervisory committee for his or her services as a member of the board or committee(s) a sum that may, from time to time, be fixed by the members at an annual meeting. No officers, directors, or employees shall receive any other compensation or fee for services provided to the credit union beyond their compensation as officers, directors, and/or employees.
2 Effective Date. This act shall take effect 60 days after its passage.
Text to be added highlighted in green.
1 Banks and Banking; Loan Associations; Credit Unions; Compensation RSA 383-E:6-607(a) is repealed and reenacted to read as follows:
(a) Any credit union may pay to each of the members of the board of directors, credit committee, and supervisory committee for his or her services as a member of the board or committee(s) a sum that may, from time to time, be fixed by the members at an annual meeting. No officers, directors, or employees shall receive any other compensation or fee for services provided to the credit union beyond their compensation as officers, directors, and/or employees.
2 Effective Date. This act shall take effect 60 days after its passage.