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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter VII - National Credit Union Administration |
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SubChapter A - Regulations Affecting Credit Unions |
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Part 708a - Bank Conversions and Mergers |
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Subpart A - Conversion of Insured Credit Unions to Mutual Savings Banks |
§ 708a.111 - Limit on compensation of officials.
Latest version.
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§ 708a.111 Limit on compensation of officials.
No director or senior management official of an insured credit union may receive any economic benefit in connection with the conversion of a credit union other than compensation and other benefits paid to directors or senior management officials of the converted institution in the ordinary course of business.
[71 FR 77167, Dec. 22, 2006. Redesignated at 75 FR 81386, Dec. 28, 2010]