Alaska Statutes 10.15.180 – Compensation and benefits to directors, officers, and employees

Unless the bylaws provide otherwise,

(1) only the members of the cooperative may establish compensation or other benefits for a director, not available generally to officers and employees, for services as a director;

Terms Used In Alaska Statutes 10.15.180

board: means board of directors. See Alaska Statutes 10.15.595
cooperative: means a cooperative corporation subject to the provisions of this chapter. See Alaska Statutes 10.15.595
member: means a person who has been qualified and accepted for membership in a cooperative. See Alaska Statutes 10.15.595

(2) a director may not hold, during a term as director, a position in the cooperative on regular salary;

(3) the board may provide, for prior or future services of an officer or employee, reasonable compensation, pension, or other benefits to the officer or employee and pension or other benefits to a member of the family of the officer or employee or the beneficiaries of the officer or employee; an officer or employee who is a director may not take part in a vote on compensation for services rendered or to be rendered to the cooperative by that officer or employee.

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