Central Act

The State Bank of India Act, 1955

23. Vacation of office of directors, etc. If a director of the Central Board or a member of a Local Board or a Local Committee-- (a) becomes subject to any of the disqualifications mentioned in section 22; or (b) resigns his office by giving notice in writing under his hand, in the case of the 1 [chairman 2*** and amanaging director] to the Central Government and in the case of other directors or members of Local Boards or Committees, to the Central Board, and the resignation is accepted; or (c) is absent without leave of the Central Board, the Local Board or the Local Committee of which he is a director or member, as the case may be, for more than three consecutive meetings thereof; his seat shall thereupon become vacant. 3[Provided that nothing in clause (c) shall apply to the chairman in relation to his membership of a Local Board or of a Local Committee.]