Approved/revised: November 19, 2012
A. Every Board Member, Officer of the Board, and Officer of the Institute, including their heirs, executors and administrators, and estate and effects, respectively, shall from time-to-time, and at all times, be indemnified and saved harmless, out of funds of the Institute, from and against:
(1) All costs, charges and expenses whatsoever sustained or incurred by a member or officer in or about any action, suit or proceeding which is brought, commenced or prosecuted against such member or officer, for or in respect of any act, deed, matter or thing whatsoever, made, done, permitted, or omitted by that member or officer, in or about the execution of the duties performed by that individual as a Board member or officer or officer of the Institute.
(2) All other costs, charges and expenses sustained or incurred in or about or in relation to the affairs of the Institute; except such costs, charges or expenses as are occasioned by the Board member's/officer’s or Institute officer’s own wilful neglect or default.
(3) The Board Chair and Vice Chair are Officers of the Board.
(4) The Officers of the Institute are the President/Chief Executive Officer, and others so designated by the Board from time to time.