The Pamphlet Collection of Sir Robert Stout: Volume 88
Indemnity
Indemnity.
79. Directors, Secretary, Agents, and other officers of the page break Company shall be indemnified by the Company against all losses, and expenses incurred by them, in or about the discharge of their duties, except such as are due to and in consequence of their own wilful act. Neglect or default. No Director shall be responsible for any other Director, or for any Officer, Clerk, or Servant of the Company, or for any loss or expense happening to the Company by the insufficiency or deficiency of value of or title to any property or security acquired or taken on behalf of the Company, or by the bankruptcy or tortious act of any customer or debtor of the Company, or by any thing done in the execution of the duties of his office, or in relation thereto, or from any other cause than his own wilful act or default.