N.Y. Cooperative Corporations Law § 62: Salaries

§ 62. Salaries. The corporation may provide a fair remuneration for

its officers and directors and for members of its executive committee.

No officer or director or member of the executive committee shall be a

party to a contract for profit with the corporation which in substance

shall differ in any way from similar contracts by it with members or

with others, or which shall vary from terms generally current in the

district.