175.4. Any member of the council of commissioners who has a direct or indirect interest in any enterprise which places the member’s personal interest in conflict with the interest of the school board must, on pain of forfeiture of office, disclose the interest in writing to the director general of the school board, abstain from voting on any matter concerning the enterprise and avoid influencing the decision relating to it. The member must, in addition, withdraw from a sitting while the matter is discussed or voted on.
A disclosure under the first paragraph must be made at the first sitting of the council
(1) after a person having such an interest becomes a member of the council;
(2) after a member of the council acquires such an interest;
(3) during which the matter is dealt with.
Forfeiture of office incurred under this section shall subsist for five years after the date on which the judgment in which the forfeiture is declared acquires the authority of res judicata.