14. A member of the board of directors of a corporation ceases to be such on ceasing to be a member of the municipal council that designated him.
However, such a person does not cease to hold office at the expiry of his term as a member of the council if he is reelected at the election at or after the expiry of his term, according as the member is a councillor or mayor, and if, within the prescribed time, he makes the oath required of any elected person.
1977, c. 64, s. 14; 1987, c. 57, s. 792.