The commissioner shall have the power to make any rules and regulations that may be necessary for the execution of the functions vested in the commissioner by §§ 27-1-29 — 27-1-35, and may for that purpose classify domestic stock insurance companies, securities, and other persons or matters within the commissioner’s jurisdiction. No provision of §§ 27-1-29 — 27-1-31 imposing any liability shall apply 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of the commissioner, notwithstanding that the rule or regulation may, after the act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.
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