Tennessee Code 45-11-109 – Fees, commissions or other forms of consideration prohibited
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 45-11-109
- Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
A director, officer, committee member, agent or senior management employee of a credit union, and immediate family members of such individuals shall not, directly or indirectly, receive a fee, commission, or other consideration, other than that person‘s usual salary or compensation for aiding, promoting, or assisting in a conversion under this chapter.