6.2-1352 - (Effective October 1, 2010) Compensation of officials. - Virginia Statutes

§ 6.2-1352. (Effective October 1, 2010) Compensation of officials.

No member of the board of directors shall receive any compensation for hisservices as a member of the board. The members of the credit or supervisorycommittee may receive for their services, as members, such compensation asthe board of directors may determine. Health, accident, and term lifeinsurance protection for a director or committee member shall not beconsidered compensation. Directors and committee members, while on officialbusiness of the credit union, may be reimbursed for necessary expensesincidental to performing the business of the credit union. Official businessof the credit union shall include attendance at regular or special meetingsof the board of directors or committees thereof.

(Code 1950, § 6-220; 1964, c. 75; 1966, c. 584, § 6.1-211; 1968, c. 560;1982, c. 572; 1983, c. 158; 1984, c. 354; 1988, c. 275; 1990, c. 373; 1995,c. 325, § 6.1-225.35; 2010, c. 794.)