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2016 New York Laws
ISC - Insurance
Article 77 - (Insurance) THE LIFE INSURANCE COMPANY GUARANTY CORPORATION OF NEW YORK ACT
7716 - Immunity and indemnification.

NY Ins L § 7716 (2016) What's This?
  7716.  Immunity and indemnification. No director, officer, agent or
  other representative of the corporation shall be individually liable  to
  any  person, firm or corporation, including the corporation, for any act
  or omission to act, or for any liability incurred or assumed, on  behalf
  of  the  corporation or by virtue hereof. Any such liability so incurred
  or assumed shall be indemnified by the corporation. The expense of  such
  indemnification  shall  be  assessed against member insurers in a manner
  consistent with the method of assessment prescribed in paragraph two  of
  subsection  (c)  of  section  seven  thousand seven hundred nine of this
  article; no member company shall be subject to any liability except  for
  assessment as herein provided.

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