This law prohibits compensation for individuals serving as directors or committee members of a credit union, with specific exceptions. It allows for reimbursement of necessary expenses and certain authorized fees, ensuring that service remains voluntary while providing some financial protection.
Directors and committee members cannot receive compensation.
Exceptions include reimbursement for necessary expenses.
Insurance protection is allowed for these individuals.
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In simple terms: Learn about Texas's COMPENSATION. A person may not receive law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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