247. The resignation of a member of the board of directors entails a vacancy in the office of that member.
The resignation becomes effective from the day on which the secretary of the corporation receives a notice to that effect signed by the resigning member. The secretary shall immediately notify the Council.
The chairman and vice-chairman may resign their offices of chairman and vice-chairman in the manner prescribed in the second paragraph. The secretary shall notify the board of directors thereof without delay.
1969, c. 84, s. 280; 1985, c. 31, s. 23.