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INDEMNITY

Chairman, Senior Vice Chairman, Members of Committee, Arbitrator, Secretary and other officers or a servant of the Association shall be indemnified by the Association against, and it shall be the duty of the Committee, out of the funds of the Association to pay all costs, losses, penalties and expenses which such officer or servant may incur or become liable to pay by reason of any contract entered into, act or deed done by, or omitted by him as such officer or servant or in any way in the discharge of his duties, and no member or other officer of the Association shall be liable for the acts, receipts, neglects or defaults of any other member, officer or for joining in any receipt or other act for conformity or for any loss or expense happening to the Association through the insufficiency of title to any property acquired by order of the Committee for or on behalf of the Association or for the moneys of the Association shall be invested or for any loss occasioned by any error of judgments, omission, default or oversight on his part or for any loss, damage or misfortune whatever which shall happen in relation to the execution of the duties of his office or in relation thereto unless the same happens through his own dishonesty.