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§ 5-410. Insurance company receiverships

West's Annotated Code of MarylandCourts and Judicial Proceedings

West's Annotated Code of Maryland
Courts and Judicial Proceedings
Title 5. Limitations, Prohibited Actions, and Immunities (Refs & Annos)
Subtitle 4. Immunities and Prohibited Actions--Businesses, Associations, and Charities (Refs & Annos)
MD Code, Courts and Judicial Proceedings, § 5-410
§ 5-410. Insurance company receiverships
In general
(a) 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.
Malicious or grossly negligent acts or omissions
(b) The immunity described under subsection (a) of this section may not extend to acts or omissions that are malicious or grossly negligent.
Agents and employees of receiver
(c) The immunity described under subsection (a) of this section extends to agents and employees of the receiver.

Credits

Added as Courts and Judicial Proceedings § 5-333 by Acts 1990, c. 546, § 3, eff. Oct. 1, 1990. Renumbered as Courts and Judicial Proceedings § 5-410 by Acts 1997, c. 14, § 9, eff. April 8, 1997.
MD Code, Courts and Judicial Proceedings, § 5-410, MD CTS & JUD PRO § 5-410
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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