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S-25.1 - Act respecting the sociétés d’entraide économique

Section 77
Disposition versions

Full text
77. A director who has an interest in an undertaking putting his interest in conflict with that of the company must, under pain of forfeiture of office, disclose his interest and abstain from voting on any decision relating to the undertaking in which he has an interest.
A director is deemed to have an interest in any undertaking in which a person related to him, within the meaning of the regulations, has an interest.
A director forfeited of office by reason of a conflict of interest becomes, furthermore, disqualified for the office of director of a company for a period of five years from the act alleged.
1981, c. 31, s. 77.
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