Remuneration

(1) A director or member of a committee may be paid a stipend in connection with duties as a director or committee member of a credit union. (2) A credit union may reimburse directors and committee members for expenses incurred in the performance of their duties and functions; it may also purchase and maintain insurance for the benefit of a director, committee member, officer or employee against any liability, loss or damage incurred by that person while serving the credit union.