N.Y. Cooperative Corporations Law § 62

§ 62. Salaries. The corporation may provide a fair remuneration for\nits officers and directors and for members of its executive committee.\nNo officer or director or member of the executive committee shall be a\nparty to a contract for profit with the corporation which in substance\nshall differ in any way from similar contracts by it with members or\nwith others, or which shall vary from terms generally current in the\ndistrict.\n