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Section 12 – The Regional Rural Banks Act,1976

The Regional Rural Banks Act,1976

Section 12. Disqualifications

A person shall be disqualified for being appointed or, as the case may be, nominated as, and for being, a director, if he-

(a) Is, or, at any time has been, adjudged insolvent or has suspended payment of his debt or has compounded with his creditors, or

(b) Is of unsound mind and stands so declared by a competent court, or

(c) Is, or has been, convicted of an offence which, in the opinion of the Central Government, involves moral turpitude.

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The Regional Rural Banks Act,1976

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