Section 43(1) in Orissa State Financial Corporation General Regulations, 1957
(1)A resolution in writing signed by a majority of the members of the Corporation or where the matter concerns the Executive Committee or any other committee appointed by the Corporation, by the majority of the members of such committee, shall, on the expiry of one week from the date of its communication by the Managing Director to the remaining Directors or Members, as the case may be, valid and effectual and shall be deemed to be the resolution passed by the Board, the Executive or other committee as the case may be:Provided that if any dissenting Director or Member in writing requires, within four days of the receipt by him of the copy of the resolution from the Managing Director, that any resolution so passed shall be placed before a meeting of the Board Executive or other committee, as the case may be, the resolution shall not be deemed to be valid and effectual as aforesaid unless the resolution is passed at such meeting :Provided further that any resolution passed as aforesaid shall be placed before the next meeting of the Board, Executive or other committee, as the case may be for carrying out modification, if any.
