As used in this sub-chapter, the following definitions apply:

(1) "Exempt compensatory time" means time accrued on an hour-for-hour basis for time in a pay status in excess of 40 hours in a workweek. Accrued time may be taken as approved paid time off at a later date.

(2) "Exempt employee" means an employee who is not subject to the overtime pay provisions of the federal FLSA and its regulations.   It does not mean officers and employees listed in 2-18-103, MCA, or exempt personal staff of elected officials as described in 2-8-104, et al., MCA.   FLSA exempt employees are listed in the FLSA at 29 U.S.C. Chapter 8, section 213 and further defined in 29 CFR 541.