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Section 17 – The State Financial Corporation Act,1951

<h2The State Financial Corporation Act,1951

Section 17. Managing director

The managing director shall—

(a) Be a whole-time officer of the Financial Corporation;

(b) Perform such duties as the Board may, by regulations, entrust or delegate to him;

(c) Hold office for four years and be eligible for reappointment;

(d) Receive such salary and allowances as the Board, with the previous approval of the State Government, may determine:

Provided that the first managing director shall hold office for such term and shall receive such salary and allowances as the State Government may fix.

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The State Financial Corporation Act,1951

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