15.00 Protection and Indemnification of Directors and Officers

15.01 Except as otherwise provided in the Act, no director or officer of the Association shall be liable for the acts, receipts, neglects or defaults of any other director or officer or employee or for any loss, damage or expense happening to the Association through the

1. insufficiency or deficiency of title to any property acquired by the Association,
2. any security in which the moneys of or belonging to the Association are invested,
3. for any loss or damage arising from the bankruptcy, or wrongful act of any person with whom any moneys have been deposited,
4. for any other loss, conversion, misappropriate or any damage resulting from any dealing with assets belonging to the Association, and
5. for any loss or damage which may happen in the execution of the duties of the director unless the same shall happen by or through the director’s or officer’s own willful neglect or default.