Section 9 in The State Agricultural Credit Corporations Act, 1968
9. Constitution of Board.
The Board of directors of the Corporation shall consist of the following, namely:-(a)one directors to be nominated by the Central Government who shall be the Chairman of the Board;(b)two directors nominated by the appropriate Government, one of whom shall be a person who has special knowledge of co-operation and who is not an employee of the Central or State Government or of the Reserve Bank, State Bank, subsidiary bank, [corresponding new bank,] [Inserted by Act 5 of 1970, Section 20 (w.e.f. 19-7-1969).] banking company, or Food Corporation;(c)one director to be nominated by the Reserve Bank;(d)two directors to be elected in such manner as may be prescribed by the parties subscribing for shares in pursuance of the provisions of clause (d) of sub-section (3), and sub-section (5) of section 5;(e)a managing director, to be appointed by the Central Government and, except in the case of first appointment, after consultation with the Board:Provided that, in appointing a managing director of a Corporation established in a State, the Central Government may also consult the Government of that State.
