ByLawsJune2013 - Manitoba Gymnastics Association

(d)(e)(f)(g)for the insufficiency or deficiency of any security in or upon which any of themoneys of or belonging to the Corporation shall be placed out or invested; orfor any loss or damage arising to the Corporation from the bankruptcy,insolvency or tortious act of any person, firm or corporation including anyperson, firm or corporation with whom or which any moneys, securities oreffects shall be lodged or deposited; orfor any loss, conversion, misapplication or misappropriation of or any damageresulting from any dealing with any moneys, securities or other assetsbelonging to the Corporation; orfor any other loss, damage or misfortune whatever which may happen in theexecution of the duties of his\her respective office or trust or in relationtheretounless the same shall happen by or through his\her failure to exercise the powers and todischarge the duties of his\her office honestly and in good faith with a view to the bestinterests of the Corporation and in connection therewith to exercise the care, diligence andskill that a reasonably prudent person would exercise in comparable circumstances.The directors for the time being of the Corporation shall not be under any duty orresponsibility in respect of any contract, act or transaction whether or not made, done orentered into in the name or on behalf of the Corporation, except such as shall have beensubmitted to and authorized or approved by the Board of Directors. If any director or officerof the Corporation shall be employed by or shall perform services for the Corporationotherwise than as a director or officer of a body corporate which is employed by or performsservices for the Corporation, the fact of his\her being a director or officer of the Corporationshall not disentitle such director or officer or such firm or body corporate as the case may be,from receiving proper remuneration for such services.INDEMNITIES TO DIRECTORS AND OFFICERS36. Subject to section 119 of the Act, every director and officer of the Corporationand his\her heirs, executors, administrators and other legal personal representatives, shallfrom time to time be indemnified and saved harmless by the Corporation from and against:(a)(b)all costs, charges and expenses reasonably incurred by him/her in respect ofany action, suit or proceeding that is proposed or commenced against him/herfor or in respect of anything done or permitted by him/her in respect of theexecution of the duties of his\her office; andall other costs, charges and expenses reasonably incurred by him/her inrespect of the affairs of the Corporation.