Section 14

Every member of the Standing Committee shall be indemnified out of the funds of the Corporation against all costs, charges, expenses, losses and liabilities incurred by him in the management of the affairs of the Corporation or in the discharge of his duties, and no member of the Standing Committee shall be liable for the acts, defaults or omission of any other member of the Standing

Committee, or by reason of his having joined in any receipt for money not received by him personally, or for any loss on account of defect of title to any property acquired by the Corporation or on account of the insufficiency of any security in or upon which any moneys of the Corporation shall be invested, or for any loss incurred through any bank, broker or other agent or for any loss or damage arising from or out of the bankruptcy, insolvency or tortious act of any person with whom any moneys, securities or effects have been deposited or occasioned by any error of judgment or oversight on his part, or for any other loss, damage or misfortune

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whatever which shall happen in the execution of the duties of his office or in relation thereto, unless the same shall happen through his wilful act or default.