12 C.F.R. § 2.4
Bonus and incentive plans
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.
Notes of Decisions
Cited in 1
case, 1980–1980 · leading case: Indep. Bankers Ass'n of Am. v. John G. Heimann, Comptroller of the Currency of the United States Dep't of Treasury, 613 F.2d 1164 (D.C. Cir. 1980).
Indep. Bankers Ass'n of Am. v. John G. Heimann, Comptroller of the Currency of the United States Dep't of Treasury, 613 F.2d 1164 (D.C. Cir. 1980). “See 12 C.F.R. § 2.4 (a) (1979). 9 . The term “credit life insurance” encompasses health, accident or life insurance coverage issued as protection for a loan.”
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