The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
GOVERNING BODY, OFFICERS, AND COMMITTEES
(Cite as: 8 V.S.A. § 31314)
-
§ 31314. Compensation; insurance; expenses
(a) No officer of the governing body, no director, nor any committee member, other than
the treasurer, may be compensated for services as such. However, providing reasonable
health, accident, and similar insurance protection shall not be considered compensation.
(b) A credit union may, with the approval of a majority of the governing body, provide
personal liability or indemnity insurance coverage for its directors and other committee
members.
(c) Directors, officers of the governing body, and committee members may be reimbursed
for necessary expenses incidental to the performance of official business of the credit
union.
(d) Notwithstanding the foregoing, directors, officers of the governing body, and committee
members may be compensated for services, other than duties performed as such director,
officer of the governing body, or committee member, in accordance with the conflict-of-interest
provision set forth in section 31313 of this title. (Added 2005, No. 16, § 1, eff. July 1, 2005.)