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15 Pa.C.S. § 1730

Compensation of directors

Known as the Associations Code

The act spans §§ 15-101–15-9507 (683 sections).

(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)

(a) General rule.--Except as otherwise restricted in the bylaws, the board of directors of a business corporation has the authority to fix the compensation of directors for their services as directors, regardless of the personal interest of the directors. A director may be a salaried officer of the corporation.

(b) Presumption.--If the board of directors establishes the compensation of directors in accordance with subsection (a), that action is presumed to be fair to the corporation.

Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.