An officer paid well above the maximum is rated at the maximum rather than actual compensation. One paid below the minimum is rated at the minimum, which can be more than they actually drew.
The amounts are set per state and are revised periodically, so the figure that applied to a policy is the one in force for that state during that policy period.
Why it matters at audit
Reporting an officer's full salary without applying the cap overstates the audit basis. Auditors can only apply a cap to someone they have been told is an officer, which is why ownership details belong in the first submission.