12 U.S.C. § 307
Section 307 · Compensation of directors
This is § 4 of the Federal Reserve Act of 1913
Amended 2 times on record
Applied in 5 court decisions — leading case 9 to 5 Organization for Women Office Workers v. Board of Governors (1983)
Most recently applied in 391 F. Supp. 2d 1 - Fraternal Order of Police v. Board of Governors of the Federal Reserve System (July 2005)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
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.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Codification
Section is comprised of par. 24 of section 4 of act Dec. 23, 1913. For classification to this title of other pars. of section 4, see Codification note set out under section 301 of this title.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.