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Section 15 – The State Agricultural Credit Corporations Act,1968

The State Agricultural Credit Corporations Act,1968

Section 15. Meetings of Board and committees

(1) The Board or the Executive Committee or any other committee shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed.

(2) Three directors personally present at any meeting of the Board and two members personally present at a meeting of a committee shall be the quorum for such meeting

(3) If, for any reason, the Chairman of the Board or of any committee is unable to attend any meeting of the Board or the Committee, as the case may be, the members present at the meeting shall elect one of them to preside at the meeting.

(4) If for any reason a director nominated under clause (a), clause (b) or clause (c) of section 9 is unable to attend any meeting of the Board or of any committee if he is a member thereof , the Government or the Reserve Bank by which such director was nominated may depute any other person to attend such meeting and person so deputed shall, for the purposes of the said meeting be deemed to be a director nominated under clause (a), clause (b) or clause (c), as the case may be , of the said section 9 or a member of the committee concerned.

(5) All questions which may come up before any meeting of the Board or a committee shall be decided by a majority of votes of the members present, and in the event of an equality of votes, the Chairman of the Board of the Committee, as the case may be , or in his absence the person presiding, shall have a second or casting vote.

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The State Agricultural Credit Corporations Act,1968

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