§ 2.4 Bonus and incentive plans.
Current through Oct 1, 2026 · Read all of Part 2
A bank employee or officer may participate in a bonus or incentive plan based on the sale of credit life insurance if payments to the employee or officer in any one year do not exceed the greater of:
(a) Five percent of the recipient's annual salary; or
(b) Five percent of the average salary of all loan officers participating in the plan.