New York Laws
Article 77 - The Life and Health Insurance Company Guaranty Corporation of New York Act
7716 - Immunity and Indemnification.

§ 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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