An association may provide a fair remuneration for the time actually spent by its officers and directors in its service. No director during the term of his office shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or to any other kind of contract differing from terms generally current in that district. HISTORY: 1962 Code Section 12-963; 1952 Code Section 12-963; 1942 Code Section 6510; 1932 Code Section 6510; Civ. C. '22 Section 3414; 1921 (32) 339.
South Carolina Legal Code