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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-24

Board and committee members may not receive compensation for service as such, but reasonable expense reimbursement is not treated as compensation; authorized credit union members may be compensate…

Source excerpt

credit union governancedirector compensationexpense reimbursementmember compensationpresident compensation
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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Professional statute overview

Enactment structure, operative effect and source provenance

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01

Purpose and legislative effect

“Board and committee members may not receive compensation for service as such, but reasonable expense reimbursement is not treated as compensation; authorized credit union members may be compensated or reimbursed with board approval; the board sets a president’s compensation.”

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02

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  1. 01

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03

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Subsection 7-9-24(1)

Members of the board of directors, credit committee, or supervisory committee may not receive compensation for their services, except that reimbursement of reasonable expenses is not treated as compensation.

Section 7-9-24(1)

Subsection 7-9-24(2)

A credit union member who incurs authorized expenses or performs authorized services may be paid or reimbursed, but only in an amount approved by the board of directors.

Section 7-9-24(2)

Subsection 7-9-24(3)

The board of directors must determine the compensation for a president appointed as general manager.

Section 7-9-24(3)

04

Source and current-law status

In force source record

Source record from le.utah.gov · Legal dates not recorded

In force

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Official record

Source-indexed provision map

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Showing 4 of 4 provisions

Provision 4
§ 7-9-24Compensation of directors, committee members, and president -- Expense reimbursement.Provision

Source excerpt

Board and committee members may not receive compensation for service as such, but reasonable expense reimbursement is not treated as compensation; authorized credit union members may be compensated or reimbursed with board approval; the board sets a president’s compensation.

Compensation of directors, committee members, and president -- Expense reimbursement. A member of the board of directors, credit committee, or supervisory committee may not receive any compensation for services as such, except that the reimbursement of reasonable expenses incurred in the execution of the duties of the position may not be considered compensation. Any member of a credit union who incurs any expenses or performs any service authorized by the board of directors may be compensated or reimbursed for the expenses or services in an amount approved by the board of directors. The board of directors shall determine the compensation for a president appointed as general manager.
Section 7-9-24Verify source
§ 7-9-24(1)Subsection 7-9-24(1)Provision

Source excerpt

Members of the board of directors, credit committee, or supervisory committee may not receive compensation for their services, except that reimbursement of reasonable expenses is not treated as compensation.

A member of the board of directors, credit committee, or supervisory committee may not receive any compensation for services as such, except that the reimbursement of reasonable expenses incurred in the execution of the duties of the position may not be considered compensation.
Section 7-9-24(1)Verify source
§ 7-9-24(2)Subsection 7-9-24(2)Provision

Source excerpt

A credit union member who incurs authorized expenses or performs authorized services may be paid or reimbursed, but only in an amount approved by the board of directors.

Any member of a credit union who incurs any expenses or performs any service authorized by the board of directors may be compensated or reimbursed for the expenses or services in an amount approved by the board of directors.
Section 7-9-24(2)Verify source
§ 7-9-24(3)Subsection 7-9-24(3)Provision

Source excerpt

The board of directors must determine the compensation for a president appointed as general manager.

The board of directors shall determine the compensation for a president appointed as general manager.
Section 7-9-24(3)Verify source

Legislative relationships

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  • Undated version · currentEnglish · In force

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