Allows Massachusetts credit unions to compensate their board of directors fairly.
This bill amends Chapter 171 of the General Laws to allow Massachusetts credit unions to compensate their board of directors. The amendment removes the current restriction on compensation and permits credit unions to set the amount at their annual meetings. This change aims to ensure that directors receive fair compensation for their services.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.