New Hampshire SB 487: allowing credit union members to pay members of the board of directors for their services as a board member.

Bill Text

SB 487 - VERSION ADOPTED BY BOTH BODIES

2026 SESSION

 26-2052

 07/05

SENATE BILL 487

AN ACT allowing credit union members to pay members of the board of directors for their services as a board member.

SPONSORS: Sen. Innis, Dist 7; Sen. McGough, Dist 11; Sen. Murphy, Dist 16; Rep. Hunt, Ches. 14; Rep. Potucek, Rock. 13; Rep. Thibault, Merr. 25; Rep. Burroughs, Carr. 2; Rep. J. Sullivan, Graf. 2

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 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

 26-2052

 07/05

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT allowing credit union members to pay members of the board of directors for their services as a board member.

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 RSA 383-E:6-607(a) is repealed and reenacted to read as follows: 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 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, or employees. 

 2 Effective Date. This act shall take effect 60 days after its passage.