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State Bank of India Act, 1955

23. Vacation of office of directors, etc

If a director of the Central Board or a member of a local Board or a Local Committee-

(a) becomes subject to any of the disqualifications mentioned in section 22; or

(b) resigns his office by giving notice in writing under his hand, in the case of 26[chairman, vice-chairman and a managing director], to the Central Government and in the case of other directors or members of Local Boards or Committees, to the Central Board, and the resignation is accepted; or

(c) is absent without leave of the Central Board, the Local Board or the Local Committee of which he is a director or member, as the case may be, for more than three consecutive meetings thereof ;

his seat shall thereupon become vacant.

61 [***]

State Bank of India Act, 1955 Back

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