Section 398-A. Forfeiture of office of director

The office of a director of
  a  savings  and  loan  association shall become vacant whenever he shall
  have failed to attend the regular meetings of the board of directors and
  also of any committee of the board of which he is a member, for a period
  of six successive months, unless excused by the board for  such  failure
  by  resolution  adopted  at  the  first or second regular meeting of the
  board after expiration of such six months period, and entered  upon  its
  minutes.  A  copy  of  such  resolution  shall  be  transmitted  to  the
  superintendent by the savings and  loan  association  within  five  days
  after  its  adoption. A director who has vacated his office by reason of
  such failure to attend meetings shall not be eligible for re-election as
  a director until the expiration of one year from the date of  the  first
  regular  meeting  of  the  board  at  which a resolution could have been
  adopted by it, as herein provided, to excuse such failure.