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, § 438 Stat. 257Aug. 23, 1935, ch. 61449 Stat. 704( (par.), ; , title II, § 203(a), .)
Editorial Notes
Codification
section 301 of this titleSection is comprised of par. 24 of section 4 of act . For classification to this title of other pars. of section 4, see Codification note set out under .
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.