§2.4. Bonus and incentive plans.
12 C.F.R. § 2.4
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:
Five percent of the recipient's annual salary; or
Five percent of the average salary of all loan officers participating in the plan.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 24 (Seventh), 93a, and 1818(n).
Source
Source: 61 FR 51781, Oct. 4, 1996, unless otherwise noted.