I was told, probably by someone who didn't know better, that you either had to resign from your squad or it would toss you out. He probably didn't know what he was talking about. Wouldn't surprise me at all.
But since you still have to wait to swap back, it doesn't matter to me anyway. I might wait an hour, or maybe two, but that is about it.
Thanks for straightening me out on the squad deal though, if the time limit gets short enough, I might go fly with some other friends.