(a) Members of local boards of education may receive reasonable compensation for their services, not to exceed nine hundred dollars ($900) per month, unless set at a higher figure by a local act, upon approval by a majority vote of the members at the board’s annual meeting. Compensation shall be in addition to actual traveling and other necessary expenses incurred in attending meetings and transacting business of the board. (b) The compensation, actual traveling expenses , and other necessary expenses incurred shall be paid as other ordinary and necessary expenses of the board. (c) Any individual member of a local board of education may refuse to accept all or any portion of the approved compensation. (d) The compensation of any member of a local board of education who is not in compliance with the continuing education and training requirements developed pursuant to Section 16-1-41.1 shall be held in escrow by the local board of education until the member becomes compliant. If a member vacates, resigns from, or otherwise leaves his or her position as a member of the local board of education with any compensation remaining in escrow, those remaining funds shall then revert back to the local board of education.
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