State Agricultural Credit Corporations Act, 1968

12. Disqualifications.

No person shall be a director, who,-

1. except in the case of the managing director, is a salaried official of the Corporation, or
2. is, or at any time has been, adjudged insolvent or has suspended payment of his debts or has compounded with his creditors, or
3. is of unsound mind and stands so declared by a competent court, or
4. is or has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude.