Rinse rice under running water until water runs clear. Sauté onion, bay leaves, and salt in hot butter in a saucepan over medium-high heat 4 minutes. Add rice; sauté 2 minutes. Add broth. Bring to a boil; cook 5 minutes. Cover, reduce heat to low; simmer 12 minutes. Remove from heat; let stand, covered, 15 minutes. Fluff rice with a fork.