12 USC § 307 - Compensation of directors

---
identifier: "/us/usc/t12/s307"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 307 - Compensation of directors"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "307"
section_name: "Compensation of directors"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "VII"
subchapter_name: "DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND ASSISTANTS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 4 (par.), 38 Stat. 257; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)"
---


# § 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.

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

## Editorial Notes

### Codification

Section 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.