Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited

No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan. Source: SL 1984, ch 325 , § 2; SL 2001, ch 286 , § 74.