Vermont § 31314 - Compensation; insurance; expenses

§ 31314. Compensation; insurance; expenses

• (a) No officer of the governing body, no director, nor any committee member, other than
  the treasurer, may be compensated for services as such. However, providing reasonable
  health, accident, and similar insurance protection shall not be considered compensation. (b) A credit union may, with the approval of a majority of the governing body, provide
  personal liability or indemnity insurance coverage for its directors and other committee
  members. (c) Directors, officers of the governing body, and committee members may be reimbursed
  for necessary expenses incidental to the performance of official business of the credit
  union. (d) Notwithstanding the foregoing, directors, officers of the governing body, and committee
  members may be compensated for services, other than duties performed as such director,
  officer of the governing body, or committee member, in accordance with the conflict-of-interest
  provision set forth in section 31313 of this title. (Added 2005, No. 16, § 1, eff. July 1, 2005.)