Section 26 in The State Bank Of India (Subsidiary Banks) Act, 1959
26. Term of office of Directors.
(1)A director of a subsidiary bank, [nominated under clause (b) or clause (c) or clause (e) of sub-section (1) of section 25 or appointed under clause (ca) or clause (cb) of that sub-section] [Substituted by Act 66 of 1988, Section 19, for certain words (w.e.f. 30-12-1988)] shall hold office during the pleasure of the authority [nominating or appointing] [Substituted by Act 66 of 1988, Section 19, for certain words (w.e.f. 30-12-1988)] him.(2)[ Subject to the provisions contained in section 25, a director elected under clause (d) of sub-section (1) of that section shall hold office for three years [* * *] [Substituted by 66 of 1988, Section 19, for sub-sections (2) and (2A) (w.e.f. 30-12-1988)] and shall be eligible for re-election:Provided that no such director shall hold office continuously for a period exceeding six years.(2A)Subject to the provisions contained in section 25 and in sub-section (1), a director nominated under clause (c) and not being an officer of the State Bank or a director appointed under clause (ca) or clause (cb) or a director, not being an officer of the Central Government, nominated under clause (e) of sub-section (1) of section 25, shall hold office for such term not exceeding three years, as the Central Government may specify [and thereafter until his successor shall have been duly appointed] [Substituted [and thereafter until his successor shall have been duly nominated or appointed] by Act 45 of 2006 (w.e.f. 25.9.2006) ] and shall be eligible for re-nomination or re-appointment, as the case may be:Provided that no such director shall hold office continuously for a period exceeding six years.](3)[ * * * * *] [Sub-section (3) omitted by Act 66 of 1988, Section 19 (w.e.f. 30-12-1988)]
