174. As soon as the transit authority acquires all of the capital stock of a public transport undertaking, the functions of the directors of the undertaking then in office shall cease and the members of the board of directors shall become the sole directors of such undertaking, without remuneration, and without personally being shareholders of such undertaking, notwithstanding any inconsistent provision of any law, charter or by-law.
1969, c. 85, s. 225; 1983, c. 29, s. 54; 1990, c. 85, s. 72; 1999, c. 40, s. 67.