There shall be no liability for damages on the part of, and no cause of action in tort of any nature shall arise against:

1. (1) Any member credit union;
2. (2) The corporation or its agents, employees, or board of directors; or
3. (3) The department or any of its representatives or employees; for any action taken by any of them in the performance of its powers and duties under this act, unless such action is willful, wanton, or fraudulent.

History.--s. 16, ch. 74-183; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 4, 6, ch. 80-258; ss. 2, 3, ch. 81-318; ss. 11, 12, ch. 91-17; ss. 1, 3, ch. 91-307; s. 4, ch. 91-429.