Section 11 in The State Financial Corporations Act, 1951
11. [ Term of office and retirement of directors
.-(1) A nominated director shall hold office during the pleasure of the authority nominating him.(2)Subject to the provisions of sub-section (1), a nominated director shall hold office for such term not exceeding three years and shall also be eligible for re-nomination:Provided that no such director shall hold office continuously for a period exceeding six years.(3)An elected director other than a director deemed to be elected under the first proviso to clause (d) of section 10 shall hold office for three years and shall also be eligible for re-election:Provided that no such director shall hold office continuously for a period exceeding six years.
