Section 38 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
38. Term of Directors.
(1)The term of office of the directors, or where the bye-laws provide for retirement of director by rotation, the term of office of the individual directors shall be for such period as specified in the bye-laws, which shall not exceed five years from the date on which first meeting of the board is held.(2)The term of representative elected by the board shall be coterminous with the term of the board for which representative is elected :Provided that the representative of a board shall continue to hold his office only till expiry of the term of the board of which he is a member.(3)For removal of doubt it is hereby declared that where the term of office of the director is changed by amending bye-laws, the changed term shall apply only to the director elected after such amendment for the constitution of new board.(4)Any casual vacancy in the office of the director shall be filled in accordance with the provisions of the bye-laws and the director so elected shall hold office for the unexpired term of his predecessor.
