Bylaws

Chapter 14. Indemnification and Lawsuits Against NFA

BYLAW 1402. LAWSUITS AGAINST NFA.

[Effective date of amendment: November 12, 2004.]

Any current or former Member or Associate who fails to prevail in a lawsuit or any other type of legal proceeding instituted in a court of law or otherwise against NFA or any of its officers, directors, committee members, volunteers, arbitrators, employees or agents shall pay to NFA any and all reasonable expenses and disbursements, including reasonable attorney's fees, incurred by NFA to defend such lawsuit or proceeding.