Bill Text: NH SB25 | 2025 | Regular Session | Introduced
Bill Title: Allowing credit union members to pay members of the board of directors for their services as a board member.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2025-01-14 - Committee Report: Ought to Pass, 01/09/2025, Vote 5-0; Senate Calendar 7 [SB25 Detail]
Download: New_Hampshire-2025-SB25-Introduced.html
SB 25 - AS INTRODUCED
2025 SESSION
25-1082
07/09
SENATE BILL 25
SPONSORS: Sen. Innis, Dist 7
COMMITTEE: Commerce
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ANALYSIS
This bill allows credit union members to pay members of the board of directors for their services as a board member.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-1082
07/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Banks and Banking; Loan Associations; Credit Unions; Compensation RSA 383-E:6-607(a) is repealed and reenacted to read as follows:
(a) Any credit union may pay to each of the members of the board of directors, credit committee, and supervisory committee for his or her services as a member of the board or committee(s) a sum that may, from time to time, be fixed by the members at an annual meeting. No officers, directors, or employees shall receive any other compensation or fee for services provided to the credit union beyond their compensation as officers, directors, and/or employees.
2 Effective Date. This act shall take effect 60 days after its passage.
