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2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 26 - SOUTH CAROLINA CREDIT UNION ACT
Section 34-26-620. Prohibition against compensation for services; accident insurance; expenses.
Universal Citation: SC Code § 34-26-620 (2017)
No officer, director, or committee member, other than an employee, may be compensated for services. However, providing reasonable accident insurance protection while on credit union business shall not be considered compensation. Directors, officers, and committee members may be reimbursed for expenses incidental to the performance of official business of the credit union.
HISTORY: 1996 Act No. 371, Section 1, eff May 29, 1996.
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