REMUNERATION of MEMBERS of the GOVERNING BOARD OR MANAGERS in COOPERATIVES

Abstract

The remuneration of the members of the Governing Board or managers is an important aspect of corporate governance in any type of society. In all regulations the right of managers of a cooperative society to be compensated for the expenses they incurred in the performance of their duties is recognized. Not so with the possibility that they may be paid by the exercise of his tasks. It is generally assumed that the position is unpaid, and in some regulations and in some cases not even allowed to take paid character. In any case, if managers are expected to be paid by the exercise of their functions, their determination should be analyzed and possible limits on its setting. In close connection with the remuneration of the managers, is the possible challenge of the corporate resolutions relating to remuneration of managers. Finally, we discuss the impact that the managers are rewarded in demanding liability to managers.