law: 12. Term of office of members.-
  (1) Subject to the provisions of this section, the term of office of the members of the Governing Board including the Chairman shall be four years from the date of their nomination.
  (2) An outgoing member of the Governing Board shall be eligible for re-nomination.
  (3) The term of office of a member nominated to fill a casual vacancy in the Governing Board shall continue for the remainder of the term of the member in whose place he is nominated.
  (4) A member may resign his office by writing under his hand addressed to the Central Government but he shall continue in office until his resignation is accepted by that Government.