Well, here is what I found....TDFI Bulletin No. B-89-3....Employees and Officers may participate in a bonus or incentive plan under which payments based on credit life insurance sales are made not more frequently than quarterly and not exceeding in any one year 5 percent of the recipient's annual salary.
TDFI Bulletin No. B-89-5...When credit life income is earned and does not go into the general earning of the bank, but instead to officials or employees of the bank or to companies owned by the bank holding company or officers, then this Department will have no objection so long as the full details of this income distribution are disclosed to the shareholders on at least an annual basis.
This is info is really old, so if anyone is aware of anything more current, pleas let me know.
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The opinions expressed are mine and do not necessarily reflect those of my employer.