{"data":{"id":"us/12-cfr-708a.111","jurisdiction":"us","citation":"12 CFR 708a.111","heading":"a.111 Limit on compensation of officials.","body":"No director or senior management official of an insured credit union may receive any economic benefit in connection with the conversion of a credit union other than compensation and other benefits paid to directors or senior management officials of the converted institution in the ordinary course of business.","path":["Title 12—Banks and Banking","CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION","SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS","PART 708a—BANK CONVERSIONS AND MERGERS","Subpart A—Conversion of Insured Credit Unions to Mutual Savings Banks"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"650f8e06112a277a019d6b390149bb4a95e8284d01879db9c337c7cde06ac7b6","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-708a.110","next":"us/12-cfr-708a.112"},"notice":"GroundRules: Original legal text. Not legal advice."}