524.610 - COMPENSATION OF DIRECTORS.
524.610 COMPENSATION OF DIRECTORS. The shareholders of a state bank shall fix the reasonable compensation of directors for their services as members of the board of directors. Subject to approval by the shareholders at an annual or special meeting called for that purpose, the shareholders of a state bank may adopt a pension or profit-sharing plan, or both, or other plan of deferred compensation for directors, to which a state bank may contribute. Directors may be reimbursed for reasonable expenses incurred in the performance of their duties.
Section History: Early Form [C97, § 1869, 1871; S13, § 1869, 1871; C24, 27, 31, 35, 39, § 9219, 9227; C46, 50, 54, 58, 62, 66, § 528.5, 528.21; C71, 73, 75, 77, 79, 81, § 524.610; 81 Acts, ch 173, § 1]
Section History: Recent Form 95 Acts, ch 148, §67; 2004 Acts, ch 1141, §21 Referred to in § 524.613