N.Y. Banking Law § 249 Compensation of Trustees and Officers

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 777
• Year: 2023
• Citation: N.Y. Banking Law § 249

1. A trustee of a savings bank shall not directly or indirectly receive any pay or emolument for any services rendered to the savings bank, except as provided in this section.

2. A trustee may, by affirmative vote of a majority of all the trustees, receive reasonable compensation for (a) attendance at meetings of the board of trustees; (b) service as an officer of the savings bank, provided his duties as officer require and receive his regular and faithful attendance at the savings bank; (c) service in appraising real property for the savings bank; and (d) service as a member of a committee of the board of trustees.