Bill Text: VA HB2706 | 2019 | Regular Session | Introduced
Bill Title: Credit unions; board of directors compensation.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2019-02-05 - Left in Commerce and Labor [HB2706 Detail]
Download: Virginia-2019-HB2706-Introduced.html
Be it enacted by the General Assembly of Virginia:
1. That §6.2-1352 of the Code of Virginia is amended and reenacted as follows:
§6.2-1352. Compensation of officials.
No member Compensation of members of the
board of directors shall receive any
compensation for his services as a member of the board. The and members of the credit or and
supervisory committee may receive for their services, as members, such
compensation as committees, inclusive of
travel reimbursement while performing the business of the credit union, shall
be determined by a written policy approved by the board of
directors may determine. Health,
accident, and term life insurance protection for a director or committee member
shall not be considered compensation. Directors and committee
members, while on official business of the credit union, may be reimbursed for
necessary expenses incidental to performing the business of the credit union.
Official business of the credit union shall include attendance at regular or
special meetings of the board of directors or committees thereof.
