Alabama Code 11-50-15. Fees of directors
Terms Used In Alabama Code 11-50-15
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: means next after. See Alabama Code 1-1-1
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- Statute: A law passed by a legislature.
- year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
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 jurisdiction, etc., of State Board of Health and state Public Service Commission” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”AL” title=”11″>11-50-241, or under the provisions of Sections 11-50-310 through 11-50-318 and contract for conveyance of system in other municipality thereto upon payment in full of indebtedness of corporation as to such systems” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”AL” title=”11″>11-50-320 through 11-50-230 through 11-50-273 and Sections 37-4-60 through 37-4-65” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”AL” title=”11″>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 director’s fee in an amount not exceeding six hundred dollars ($600) per meeting attended, not to exceed seven thousand two hundred dollars ($7,200) 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 four hundred dollars ($400) per meeting attended, not to exceed four thousand eight hundred dollars ($4,800) per year, for each system and twenty dollars ($20) each meeting attended, not to exceed four thousand eight hundred dollars ($4,800) 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 and nothing in Act 2010-580 shall apply to the City of Montgomery, the City of Prichard Water and Sewer Board, the City of Cullman, or the City of Mobile.
The amendatory provisions of this section as provided in Act 2010-580 and in Act 2007-458 shall not affect the current board director and member fees in the City of Birmingham.