
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC307]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
 SUBCHAPTER VII--DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND 
                               ASSISTANTS
 
Sec. 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, Sec. 4 (par.), 38 Stat. 257; Aug. 23, 1935, ch. 
614, title II, Sec. 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.
