State Bank of India Act, 1955
21A. Term of office of office of members of Local Board.
(1) Subject to the provisions contained in this section and in sub-section (2) of section 21, a member of a Local Boar nominated under clause (c) of sub-section (1) of section 21, or elected under clause (d) of that sub-section shall hold office for two years and thereafter until his successor has been duly nominated or elected and shall be eligible for re-election, as the case may be :
Provided that out of the six members nominated under clause (c) of sub-section (1) of section 21, on the constitution of a new Local Board of the reconstitution or an existing Local Board for the first time on or after the commencement of the State Bank of India (Amendment) Act, 1964, three shall retire at the end of one year and three shall retire at the end of two years from the date of the constitution or, as the case may be, reconstitution of that Local Board, and the members to retire at the end of the first year shall be determined by lot.]
(3) A director of the Central Board becoming a member of a Local Board by virtue of the provisions of clause (b) of sub-section 21 shall cease to hold office as such member on his ceasing to be a director or on his ceasing to be ordinarily resident in the relevant area.
(4) The president and the vice-president of a Local Board shall each hold office for two years or the remaining period of his office as a member of he Local Board, whichever is shorter, and shall be eligible for re-appointment so long as he is a member of the Local Board.
51[(5) A member of a Local Board nominated under clause (c) of sub-section (1) of section 21 shall hold office during the pleasure of the Central Government.]