Any of the following persons shall not be eligible to be a director or hold the office of director:
(a) Who is of unsound mind or is insane;
(b) Who is convicted by a court of a criminal offense involving moral turpitude, and sentenced to imprisonment for a term exceeding Six
months and a period of Five years has not lapsed from the date of the service of such a sentence of imprisonment;
(c) Who has become insolvent; or
(d) Who has any kind of personal interest in any contract with or
transaction of the Corporation.