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Section 13 – The State Bank of Hyderabad Act,1956

The State Bank of Hyderabad Act,1956

Section 13. Term of office of directors

(1) The managing director shall hold office for such term not exceeding four years as the Reserve Bank may specify at the time of his appointment.

(2) A director nominated under clause (b) or clause (c) of sub-section (1) of section 12 shall hold office at the pleasure of the authority nominating him.

(3) A director nominated under clause (d) of sub-section (1) of section 12 shall hold office for three years:

Provided that he shall continue to hold office until his successor is duly nominated.

(4) A director relinquishing his office shall be eligible for re-appointment or re-nomination, as the case may be.

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The State Bank of Hyderabad Act,1956

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