11. Neither the chairman nor any vice-chairman of the Société may, under pain of forfeiture of office, have any direct or indirect interest in an activity putting his personal interest in conflict with that of the Société.
However, forfeiture is not incurred if such an interest devolves to him by succession or gift, provided that he renounces or disposes of it with dispatch.
A member of the board of directors having a direct or indirect interest in an activity must, on pain of forfeiture of office, disclose it to the chairman in writing and refrain from participating in any decision having to do with the activity in which he has the interest.
The members of the board of directors are not in conflict of interest for the sole reason that they are required to perform the duties imposed on the Société under section 23.0.4.
1977, c. 67, s. 11; 1980, c. 38, s. 7; 1990, c. 19, s. 11; 2004, c. 34, s. 7.