§ 249 — Compensation of trustees and officers

§ 249. Compensation of trustees and officers. 1. A trustee of a\nsavings bank shall not directly or indirectly receive any pay or\nemolument for any services rendered to the savings bank, except as\nprovided in this section.\n 2. A trustee may, by affirmative vote of a majority of all the\ntrustees, receive reasonable compensation for (a) attendance at meetings\nof the board of trustees; (b) service as an officer of the savings bank,\nprovided his duties as officer require and receive his regular and\nfaithful attendance at the savings bank; (c) service in appraising real\nproperty for the savings bank; and (d) service as a member of a\ncommittee of the board of trustees.\n 3. An attorney for a savings bank, although he be a trustee thereof,\nmay receive a reasonable compensation for his professional services,\nincluding examinations and certificates of title to real property on\nwhich mortgage loans are made by the savings bank; or if the savings\nbank requires the borrowers to pay all expenses of searches,\nexaminations and certificates of title, including the drawing,\nperfecting and recording of papers, such attorney may collect of the\nborrower and retain for his own use the usual fees for such services,\nexcepting any commissions as broker or on account of placing or\naccepting such mortgage loans.\n