- (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.
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 360.