The Commissioner may make such rules and regulations as may be necessary for the execution of the functions vested in him or her by sections 4302-4307 of this title, and may for that purpose classify domestic stock insurance companies, securities, and other persons or matters within his or her jurisdiction. No provision of sections 4302-4304 of this title imposing any liability applies to any act done or omitted in good faith in conformity with any rule or regulation of the Commissioner, notwithstanding that the rule or regulation may, after the act or omission, be amended or rescinded, or determined by judicial or other authority to be invalid for any reason. (Added 1965, No. 88, § 8.)