Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 5-516 - Compensation and contracts of officers and directors(a) A cooperative may provide a fair remuneration for the time its officers and directors spend in its service.(b) During his term of office, a director may not be a party to a contract for profit with the cooperative if the contract differs in any way from the business relations with the cooperative accorded its other members.