Section 7.02. Director compensation.

Latest version.

Members of an association's board of directors may be paid fees which are reasonable and customary. For their work on the board of directors, directors may not receive a bonus or profit sharing proceeds. This does not preclude directors of capital stock associations from receiving stock options to the extent permitted under federal law.

History: Cr. Register, June, 1989, No. 402 , eff. 7-1-89.

Note

This section interprets or implements ss. 215.50 (7) and 215.70 (2) , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1

                    
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