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Section 15 – The State Bank of Hyderabad Act,1956

The State Bank of Hyderabad Act,1956

Section 15. Vacation of office of directors

If a director-

(a) Becomes subject to any of the disqualifications mentioned in section 14, or

(b) Resigns his office by giving notice in writing under his hand to the Reserve Bank, and his resignation is accepted by that bank, or

(c) Is absent without leave of the Board of Directors for more than three consecutive meetings thereof,

His seat shall thereupon become vacant.

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The State Bank of Hyderabad Act,1956

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