Section 5-410 - Immunity - Receivership of insurer. - Maryland Statutes

§ 5-410. Immunity - Receivership of insurer.
 

(a)  In general.- Except as provided in subsection (b) of this section, no claim of any nature whatsoever that is directly related to the receivership of an insurer shall arise against, and no liability shall be imposed upon, the Insurance Commissioner, deputy commissioner, special deputy commissioner, or any person or entity acting as a receiver of an insurer, including surety, in rehabilitation, liquidation, or conservation as a result of a court order issued on or after January 1, 1985 for any statement made or actions taken or not taken in the good faith exercise of their powers under law. 

(b)  Malicious or grossly negligent acts.- The immunity described under subsection (a) of this section may not extend to acts or omissions that are malicious or grossly negligent. 

(c)  Agents and employees.- The immunity described under subsection (a) of this section extends to agents and employees of the receiver. 
 

[1990, ch. 546, § 3; 1997, ch. 14, § 9.]