1. (a) Expense reimbursement. A credit union may, by written board policy, authorize the payment of reasonable expenses incurred by directors and committee members and their spouses for attending and participating in board approved conferences and/or educational programs.

2. (b) Payment of fees. A credit union may, by written board policy, authorize the payment of reasonable fees for directors and/or committee members attending duly called meetings for the conduct of appropriate credit union business. The policy shall include a schedule of meeting fee amounts and a provision that fees may be paid only for actual attendance at duly called meetings. The authority to pay any such fee is subject to the following limitations:

   1. (1) the credit union is not operating under a Net Worth Restoration Plan;
   2. (2) the credit union must not be under supervisory sanctions imposed by the commissioner pursuant to the Act or commission rule;
   3. (3) the credit union must notify the commissioner by furnishing a copy of the policy, and any amendments thereto, at least 30 days prior to the implementation of the policy or any revisions thereof; and
   4. (4) the credit union must keep accurate and detailed records of the fees paid under the policy.

3. (c) Use of credit union equipment. A credit union may provide personal computers, access to electronic mail, and other possible electronic conveniences to directors during their terms of office provided:

   1. (1) The board of directors determines that the equipment and the electronic means are necessary and appropriate for the directors to fulfil their duties and responsibilities;
   2. (2) The board of directors develops and maintains written policies and procedures regarding this matter; and
   3. (3) The arrangement ceases immediately upon the person's leaving office, without providing any residual physical benefits.
4. (d) Review by board. At least annually, the board shall review the expenses which have been incurred, paid or reimbursed by the credit union as authorized by this section.
5. (e) Waiver by commissioner. The commissioner in the exercise of discretion may grant a waiver in writing of the limitations described in subsection (b) of this section.

Source Note:The provisions of this §91.502 adopted to be effective August 14, 2000, 25 TexReg 7632.