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18 <br /> faith evaluation of the manner in which the claimant for indemnity <br /> acted and of the reasonable amount of indemnity due him and giving <br /> notice to , and obtaining approval by, the members of the <br /> Corporation. Any person who at any time after the adoption of <br /> these By-laws serves or has served in any of the aforesaid <br /> capacities for to have done so in reliance upon, and as <br /> consideration for, the right of indemnification provided herein. <br /> Such right shall inure to the benefit of the legal representatives <br /> of any such person and shall not be exclusive of any other rights <br /> to which such person may be entitled apart from the provisions of <br /> this By-law. <br /> R <br /> Section 5. Dissolution: The Corporation may be dissolved <br /> only by the vote of the majority of the Directors of the <br /> Corporation at a meeting to which due notice of such purpose has <br /> been given to the Directors. Upon dissolution of the Corporation, <br /> no director, officer, incorporator or employee of the Corporation <br /> shall be entitled to any distribution or division of its remaining <br /> property or proceeds, and the balance of any money and other <br /> property received by the Corporation from any source, after the <br /> payment of all debts and obligations of the Corporation, shall be <br /> distributed to one of more organizations which qualify for <br /> exemption from income tax under Section 501 (c) (3 ) of the Internal <br /> Revenue Code (or the corresponding provision of any future federal <br /> tax law) , such distribution to be made to the extent practicable in <br /> a manner which benefits such organizations. <br /> Section 6 . Internretation of By-laws: These By-laws - shall <br /> be construed and interpreted under the laws of the State of North <br />