§ 2.4 - Bonus and incentive plans.

Latest version.

§ 2.4 Bonus and incentive plans.

A bank employee or officer may participate in a bonus or incentive plan based on the sale of credit life insurance if payments to the employee or officer in any one year do not exceed the greater of:

(a) Five percent of the recipient's annual salary; or

(b) Five percent of the average salary of all loan officers participating in the plan.

                    
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§ 2.4 - Bonus and incentive plans.

§ 2.4 Bonus and incentive plans.