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The Regional Rural Banks Act, 1976


13. Vacation of the seat of directors

1.     If a director-

a.     Becomes subject to any disqualification specified in section 12, or

b.    Is absent without leave of the Board for more than three consecutive meetings thereof. His seat shall thereupon become vacant.

2.     The Chairman may resign his office by giving notice thereof in writing to the Central Government and a director may resign his office by giving notice thereof to the authority by which he was nominated; and, on such resignation being accepted, the Chairman or the director, as the case may be, shall be deemed to have vacated his office.



The Regional Rural Banks Act, 1976 Back




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