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S-10 - Act respecting the Société de développement coopératif

Section 26
Disposition versions

Full text
26. No director shall, on pain of forfeiture of office, have a direct or indirect interest in an undertaking, other than a cooperative undertaking, creating a conflict between his personal interest and that of the corporation.
However, he shall not be removed from office if such an interest devolves to him by succession or gift, provided he renounces or disposes of it with all possible dispatch.
Every director having a direct or indirect interest in a cooperative undertaking with which the corporation is or intends to become engaged in business dealings shall, on pain of forfeiture of office, mention such interest and refrain from voting on any question in connection with that cooperative undertaking.
1977, c. 69, s. 26.
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