law: National Bank for Agriculture and Rural Development Act, 1981 
  54. Indemnity of
  
  directors.- 
  
  1.     
  
    Every
  
  director shall be indemnified by the National Bank against all losses and
  
  expenses incurred by him in, or in relation to, the discharge of his duties,
  
  except such as are caused by his own willful act or default.
  2.     
  
    A
  
  director shall not be responsible for any other director or for any officer or
  
  other employee of the National Bank or for any loss or expenses resulting to
  
  the National Bank from the insufficiency or deficiency of the value of, or
  
  title to, any property or security acquired or taken on behalf of the National
  
  Bank or the insolvency or wrongful act of any debtor or any person under
  
  obligation to the National Bank or anything done in good faith in the execution
  
  of the duties of his office in relation thereto.