12 USC 307: Compensation of directors

12 USC 307: Compensation of directors Text contains those laws in effect on January 23, 2000

From Title 12-BANKS AND BANKINGCHAPTER 3-FEDERAL RESERVE SYSTEMSUBCHAPTER VII-DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND ASSISTANTS

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§307. Compensation of directors

Directors of Federal reserve banks shall receive, in addition to any compensation otherwise provided, a reasonable allowance for necessary expenses in attending meetings of their respective boards, which amount shall be paid by the respective Federal reserve banks. Any compensation that may be provided by boards of directors of Federal reserve banks for directors, officers, or employees shall be subject to the approval of the Board of Governors of the Federal Reserve System.

(Dec. 23, 1913, ch. 6, §4 (par.), 38 Stat. 257 ; Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704 .)

Codification

Section is comprised of par. 24 of section 4 of act Dec. 23, 1913. For classification to this title of other pars. of section 4, see Codification note set out under section 301 of this title.

Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

Section Referred to in Other Sections

This section is referred to in section 442 of this title.