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I just spoke with Mary Lynne Nielsen of IEEE-SA staff. She participated in a meeting with key IEEE management today to discuss the indemnification issue and will be issuing a brief summary of the meeting later today.
During our conversation, ML mentioned that there is a federal law, the federal Volunteer Protection Act of 1997, that provides protection to volunteers of nonprofit organizations. You may want to familiarize yourself with that law (I found it described at http://www.bricker.com/publications/articles/148.asp) as part of your general education on this important issue.