Mich. Comp. Laws § 500.7032

Current through Public Act 149 of the 2024 Legislative Session
Section 500.7032 - Compensation of trustee, officer, or employee
(1) A MEWA shall not pay any salary, compensation, or emolument to any officer or trustee of the MEWA, unless the payment is first authorized by a majority vote of the board of trustees of the MEWA.
(2) A trustee, officer, or employee of a MEWA shall not be compensated unreasonably. The compensation of any trustee or officer of a MEWA shall not be calculated, directly or indirectly, as a percentage of money or premiums collected, without the approval of the commissioner.

MCL 500.7032

Add. 1986, Act 121, Eff. 7/1/1986 .