State Agricultural Credit Corporations Act, 1968
13. Vacation of seats of directors.
- If a director,-
- becomes subject to any disqualification specified in section 12, or
- is absent without leave of the Board for more than three consecutive meetings thereof, his seat shall thereupon become vacant.
- The managing director or any other director may resign his office by giving notice thereof in writing to the authority by which he was appointed or nominated, or if he is a director elected under clause (d) of section 9, to the Board, and on such resignation being accepted, shall be deemed to have vacated his office.