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§5517-a(a)
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(a) Notwithstanding any inconsistent provision of this chapter or any other law to the contrary, if the superintendent determines, for policies of excess coverage or equivalent excess coverage issued by the association and purchased on behalf of eligible participating physicians and dentists, that the rates established pursuant to subdivision 1 of §40 of chapter 266 of the laws of 1986, as amended, have produced premium amounts greater than required to satisfy the standard that premiums shall be fixed at the lowest possible rates consistent with the maintenance of solvency and of reasonable reserves and surplus therefor, then the superintendent shall direct the association and all officers and directors of the association with responsibility for custody or investment of the association's assets to return a portion of such premium to the purchaser in an amount not less than the estimated cost of all premiums necessary for the purchase of excess or equivalent excess coverage for eligible participating physicians and dentists for the policy year July 1st, 1997 to June 30th, 1998, for the policy year July 1st, 1998 to June 30th, 1999, for the policy year July 1st, 1999 to June 30th, 2000, and if the superintendent deems it necessary, for the policy year July 1st, 2000 to June 30th, 2001, and the cost of administering the hospital excess liability pool for such applicable policy year. Following such determination, the superintendent shall deliver to the association a schedule providing payment in 12 monthly installments for the return of such premium due for the policy year July 1st, 1997 to June 30th, 1998, no later than September 1st, 1997, for the return of such premium due for the policy year July 1st, 1998 to June 30th, 1999, no later than September 1st, 1998, and for the return of such premium due for the policy year July 1st, 1999 to June 30th, 2000, no later than September 1st, 1999 and for the policy year July 1st, 2000 to June 30th, 2001, no later than September 1st, 2000. Payment to the purchaser for the policy year shall be made prior to the end the applicable policy year. Upon the association's receipt notice such determination delivery such schedule, the association all officers directors the association with responsibility for custody or investment the association's assets are hereby authorized directed to return the portion such premium amounts to the purchaser according to such schedule. For policies excess or equivalent excess coverage provided pursuant to §18 of chapter 266 of the laws of 1986, as amended, the hospital excess liability pool created pursuant to subdivision 5 of §18 of such chapter shall be deemed to be the purchaser. The premium levels for excess coverage established by the superintendent shall, for the purpose of determining any projected deficiency as the basis for imposing a surcharge pursuant to subdivision 1 of §40 of such chapter as amended, be modified to reflect any such return of premium directed by the superintendent.
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§5517-a(b)
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(b) Notwithstanding any other provision of law, no director, officer or employee of the association, nor the association, nor any public officer or employee, nor any actuary, attorney, or advisor to the association or to the superintendent shall incur or suffer any liability whatsoever to any person by reason of actions taken pursuant to (this §) . Any action which could have been brought against such director, officer or employee, or against such public officer or employee, or against such actuary, attorney or advisor, or against the association, but for the provisions of (this §) ,shall be brought against the state. Source Data downloaded: 2009-04-10 09: 19: 22; Processed: 2009-05-08 15: 36: 21
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