152. A person ceases to be a member of a board of directors upon becoming disqualified for appointment or election as such.
In addition, a person elected at a public meeting held under section 135 shall cease to be a member of the board of directors upon becoming disqualified pursuant to the first or the fourth paragraph of section 151.
1991, c. 42, s. 152; 1996, c. 36, s. 19.