Subject 80-2-2 GROUP SALES PROMOTIONS
"Group Sales Promotions" shall mean any offering for the sale of goods or services by or through a credit union to its members, or a class of members, on behalf of a third party not affiliated with the credit union whether or not the credit union is compensated for making the offer available to its members or receives any compensation from the proceeds of the sale of such goods or services.
"Group Sales Promotions" shall generally be permitted, provided:
|(2)||In addition to the foregoing requirements,"Group Sales Promotions" involving franchise or group insurance shall be subject to the additional requirement that "administration fees" paid to the credit union in connection with the sale of such insurance shall not exceed five (5%) percent of the premiums collected by the credit union for transmission to the insuror or its agent.|
|(3)||The prohibitions set forth in paragraph (1) (a) above shall be included in writing with all promotional material distributed to members of the credit union.|