A. The board may:

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(1)     purchase insurance or reinsurance as is necessary to insure any potential liabilities to the fund;

(2)     provide for the imposition of assessments to ensure the financial stability of the fund; and

(3)     adopt bylaws and rules necessary to carry out the functions of the commission.

B. Except for intentional acts or acts of gross negligence, neither board members nor general members of the commission shall be liable for their acts or omissions in the administration of the Self-Insurers’ Guarantee Fund Act.