Amendment status not verified — confirm the current text below against the official source.
no person shall be a director who - (a) Except in the case of a managing director, is a salaried official of the Financial Corporation; or (b) Is or at any time has been adjudged insolvent or has suspended payment of his debts or has compounded with his creditors; or (c) Is found to be a lunatic or becomes of unsound mind; or (d) Is or has been convicted of any offence involving moral turpitude.