2012 New York Consolidated Laws
FIS - Financial Services Law
Article 4 - (402 - 409) FINANCIAL FRAUDS PREVENTION
405 - Immunity.


NY Fin Serv L § 405 (2012) What's This?
 
    §  405.  Immunity.  In  the  absence  of fraud or bad faith, no person
  subject to the provisions of  this  chapter,  the  banking  law  or  the
  insurance law shall be subject to civil liability, and no civil cause of
  action  of  any  nature  shall  arise  against  such person for any: (a)
  information relating to suspected violations of the banking law  or  the
  insurance  law  furnished to law enforcement officials, their agents and
  employees; (b) information  relating  to  suspected  violations  of  the
  banking  law  or the insurance law furnished to other persons subject to
  the provisions of this chapter; and (c) information furnished in reports
  to the financial frauds and consumer  protection  unit,  its  agents  or
  employees or any state agency investigating fraud or misconduct relating
  to  financial  fraud, its agents or employees. The superintendent or any
  employee of the financial frauds and consumer protection  unit,  in  the
  absence  of  fraud or bad faith, shall not be subject to civil liability
  and no civil cause of action of  any  nature  shall  arise  against  the
  superintendent  or any such employee by virtue of the publication of any
  report or bulletin related to the official activities of  the  financial
  frauds  and  consumer  protection  unit.  Nothing  herein is intended to
  abrogate or modify in any way  any  common  law  privilege  or  immunity
  heretofore enjoyed by any person.

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