§ 31-4427. Salaries to be authorized by directors.

Current through October 23, 2012

No domestic company shall pay any salary, compensation, or emolument to any officer, trustee, or director thereof, amounting in any 1 year to more than $5,000, unless such payment shall be authorized by the board of directors of the company.

                
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(June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 27.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-627.

1973 Ed., § 35-527.