Section 80 in State Bank of India General Regulations, 1955
80. The Seals of the State Bank .
(1)The common seal of the State Bank shall not be affixed to any instrument except in the presence of at least three directors (one of whom shall be the chairman, [***] [Omitted the words 'vice-chairman' by the State Bank of India General (Amendment) Regulations, 2013 (Regulation 31), with effect from 3rd March, 2014, published in the Gazette of India, Extraordinary, Part II. - Section 4, dated 04.03.2014.] or a managing director), who shall sign their names to the instrument in token of their presence, and such signing shall be independent of the signing of any person who may sign the instrument as a witness. Unless so signed, as aforesaid, such instrument shall be of no validity.(2)The State Bank shall have for use by the Local Boards at [Mumbai, Kolkata and Chennai] [Substituted the words 'Calcutta, Madras and Bombay' by the State Bank of India General (Amendment) Regulations, 2013(Regulation 31), with effect from 3rd March, 2014, published in the Gazette of India, Extraordinary, Part II. - Section 4, dated 04.03.2014.], and may have for the use of other Local Boards established under the Act, official seals which shall be facsimiles of the common seal of the State Bank with the addition of the name of the local head office where it is to be used.(3)An instrument to which an official seal is dully affixed shall bind the State Bank as if it had been sealed with the common seal of the State Bank.(4)An official seal shall not be affixed to any instrument except in the presence of at least two members of the Local Board and the secretary, or deputy secretary, who shall sign their names to the instrument in token of their presence and such signing shall be independent to the signing of any person who may sign the instrument as a witness. Unless so signed, as aforesaid, such instrument shall be of no validity.(5)[ The official seal may be used for such purposes as may be determined by the Local Board.] [Substituted by Resn. C.B.S.B.I., dated 29.11.1994 (w.e.f. 15-10-1993).](6)Without prejudice to the generality of the foregoing sub-regulation, an official seal may be affixed by an Local Board to instruments of the following descriptions in connection with business at the offices and branches under its jurisdiction, namely : -(a)Leases of office premises, godowns, houses and other property required in connection with the business of the State Bank and surrenders and transfers of such leases.(b)Conveyances of property bought or sold by the State Bank.(c)Instruments whereby any property is mortgaged to the State Bank, conveyances on sale or by way of transfer of mortgage, and reconveyances, surrenders and releases of such property.(d)Powers of attorney granted by the State Bank.(e)Agreements for service of employees whom the Local Board is empowered to appoint.(f)Contracts of indemnity, suretyship or guarantee with specific security or otherwise.(g)Instruments of appointment or discharge of the State Bank as trustee of any trust, or connected with the administration of any estate in which the State Bank is concerned as executor, trustee, or otherwise.
