Bill > SB25

This bill modifies New Hampshire's existing law regarding compensation for credit union board members by allowing credit unions to pay members of their board of directors, credit committee, and supervisory committee for their services. The specific compensation amount would be determined by a vote of the credit union members during their annual meeting. The bill explicitly states that board members cannot receive additional compensation or fees beyond what is established at the annual meeting, ensuring transparency and preventing potential financial abuse. By permitting such compensation, the bill aims to potentially attract more qualified individuals to serve on credit union boards by providing financial recognition for their time and expertise. The new provision will take effect 60 days after the bill's passage, giving credit unions time to adjust their practices and potentially update their bylaws to implement the new compensation framework.

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https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=1082&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB25