Section 11-50-15 Fees of directors. - Alabama Statutes

Section 11-50-15

Fees of directors.

In any instance where a public corporation heretofore or hereafter organized pursuant to the provisions of Sections 11-50-231 through 11-50-238, 11-50-240 and 11-50-241, or under the provisions of Sections 11-50-310 through 11-50-318 and 11-50-320 through 11-50-324 owns and operates one or more utility systems, the board of directors of such corporation may at its election authorize the payment by such corporation of the following directors' fees to the members of the board of directors in lieu of the directors' fees authorized in the statute under which such corporation was organized. No fee shall be paid to any director for services rendered with respect to a sanitary sewer system. In any instance when the system or systems owned and operated by the corporation are any one or more of a water system, a gas system, and an electric system, the chair of the board of directors may be paid a directors' fee in an amount not exceeding three hundred dollars ($300) per meeting attended, not to exceed three thousand six hundred dollars ($3,600) per year, for one system and twenty-five dollars ($25) each meeting for each additional system, and each member of the board of directors other than the chair may be paid a director's fee in an amount not exceeding two hundred dollars ($200) per meeting attended, not to exceed two thousand four hundred dollars ($2,400) per year, for each system and twenty dollars ($20) each meeting attended, not to exceed two thousand four hundred dollars ($2,400) per year, for each additional system.

Upon the adoption of a resolution by the board of directors of such corporation electing to come within the provisions of this section and fixing the amount of the directors' fees to be paid within the limitations set forth in this section, the corporation shall thereafter be authorized to pay the fees so fixed.

Nothing in Act 2007-458 shall apply to the City of Montgomery.

The amendatory provisions of this section as provided in Act 2007-458 shall not affect the current board director and member fees in the City of Birmingham.

(Acts 1953, No. 850, p. 1141; Acts 1981, No. 81-688, p. 1159; Act 2007-458, p. 946, §§1-3.)