(a) A member insurer or its agents or employees, the Corporation or its agents or employees, members of the Board of Directors, and the Commissioner or the Commissioner’s representatives shall have the immunity from liability described in § 5–413 of the Courts Article for any action or omission taken by them in the performance of their powers and duties under this subtitle.
(b) The immunity under subsection (a) of this section shall extend to:
(1) the Corporation as a participant in an organization of one or more other state associations of similar purposes to the Corporation; and
(2) the agents or employees of an organization in which the Corporation is a participant under item (1) of this subsection.