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S-10.001 - Act respecting the Société de développement des coopératives
Section 9
Disposition versions
9. In no case may a member of the board of directors, under pain of forfeiture of office, have any direct or indirect interest in any undertaking, other than a cooperative undertaking, causing his personal interest to conflict with that of the corporation. However, forfeiture is not incurred if such an interest devolves to him by succession or gift, provided he renounces or disposes of it with dispatch.
Any member of the board of directors who has a direct or indirect interest in a cooperative undertaking causing his personal interest to conflict with that of the corporation shall, under pain of forfeiture of office, disclose it and abstain from voting on any question concerning the undertaking.
