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or all of the assets of the Corporation or any rights or privileges that may accrue thereon and to cause the same to be transferred by the proper officers of the Corporation. During the intervals between meetings of the Board, the Executive Committee shall have the immediate charge, management and control of the activities and business affairs of the Corporation and have full power to do any and all things in relation to the affairs of the Corporation and to exercise any and all powers of the Board in the management and direction of the business and conduct of the affairs of the Corporation. The Executive Committee shall direct the manner in which the books and accounts of the Corporation shall be kept and cause to be examined from time to time the accounts and vouchers of the Treasurer and moneys received and paid out by the Treasurer. The Executive Committee shall keep a record of its proceedings and report the same to the Board at each succeeding meeting of the Board. 7.3 Quorum. A majority of members of the Executive Committee shall constitute a quorum. ARTICLE 8 INDEMNIFICATION OF DIRECTORS AND OFFICERS 8.1 Indemnification. Article 1396-2.22A of the Texas Non-Profit Corporation Act permits the Corporation to indemnify its present and former directors and officers to the extent and under the circumstances set forth therein. The Corporation hereby elects to and does hereby indemnify all such persons to the fullest extent permitted or required by such Article promptly upon request of any such person making a request for indemnity hereunder. Such obligation to so indemnify and to so make all necessary determination may be specifically enforced by resort to any court of competent BYLAWS Page 9 of 11