75.15 - Members, officers, and directors.

§ 75.15 Members, officers, and directors.    No  member  or director of a company shall receive any salary or other  compensation for  services  as  such  member  or  director,  other  than  reimbursement   of   actual  and  necessary  expenses  incurred  in  the  performance of his duties. No member, officer, or employee of a  company  shall  acquire any interest, direct or indirect, in any property then or  thereafter included or planned to be included in a project,  nor  retain  any  interest, direct or indirect in any property acquired subsequent to  his appointment or employment which is later included or planned  to  be  included  in  a  project.  If  any  member,  officer, or employee of any  company owns or  controls  an  interest,  direct  or  indirect,  in  any  property  included  in  a  project,  which  was  acquired  prior  to his  appointment or employment, he shall disclose such interest and the  date  of  acquisition  thereof  in  writing to the company and such disclosure  shall be entered upon the minutes of the company.