2006 Alabama Code - 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 as amended, 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 said 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 chairman of the board of directors may be paid a directors' fee in an amount not exceeding $125.00 each month for one such system and $25.00 each month for each additional system, and each member of the board of directors other than the chairman may be paid a director's fee in an amount not exceeding $100.00 each month for each system and $20.00 each month for each additional system; provided, that where the municipality with respect to which the corporation was primarily organized has less than 5,000 inhabitants according to the most recent official census, the maximum total amount of directors' fees which may be paid to the chairman of its board of directors shall not exceed $125.00 during any month, and the maximum total amount of directors' fees which may be paid to any other member of the board of directors shall not exceed $100.00 during any month.

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.

(Acts 1953, No. 850, p. 1141; Acts 1981, No. 81-688, p. 1159.)