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The Pamphlet Collection of Sir Robert Stout: Volume 7

Indemnity of Officers

Indemnity of Officers.

43. The Trustees, Board, and all other Officers of the Society shall be and are hereby indemnified and held harmless, out of its funds and property, from and against all manner of losses, costs, charges, damages, and expenses which they may incur or be put to in or about the execution of their respective offices, trusts, and services, and none of them shall be answerable for any act or default of any other of them, or of the inefficiency or deficiency in the title or otherwise of any security whatsoever which shall page 22 be taken for the repayment of any advance, unless the loss arising by such means shall happen through their own wilful neglect or default, nor shall they, or either of them, be answerable for any Banker, Broker, or other person with whom the trust moneys or title deeds shall from time to time be deposited for safe custody, investment, or otherwise; nor for any involuntary loss, misfortune, or damage whatsoever which may happen in the execution and performance of their respective offices, services, or trusts or in any wise relating thereto.