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C-37.2 - Act respecting the Communauté urbaine de Montréal

Section 291.23
Disposition versions

Full text
291.23. Notwithstanding any inconsistent provision of any law, articles of constitution, by-law or convention, as soon as the Société acquires all of the capital stock of a public transport undertaking, the powers of the directors of the undertaking then in office shall cease and the members of the board of directors of the Société shall become the sole directors of the undertaking, without remuneration, and without personally being shareholders of the undertaking.
1985, c. 31, s. 23; 1999, c. 40, s. 68.
291.23. Notwithstanding any inconsistent provision of any law, articles of incorporation, by-law or convention, as soon as the corporation acquires all of the capital stock of a public transport undertaking, the powers of the directors of the undertaking then in office shall cease and the members of the board of directors of the corporation shall become the sole directors of the undertaking, without remuneration, and without personally being shareholders of the undertaking.
1985, c. 31, s. 23.
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