Sec. 19. If the action of the peer review committee meets the standards specified by this chapter and the federal Health Care Quality Improvement Act of 1986, 42 U.S.C. 11101 et seq., the following persons are not liable for damages under any federal, state, or local law with respect to the action:
(1) The peer review committee.
(2) Any person acting as a member or staff to the peer review committee.
(3) Any person under a contract or other formal agreement with the peer review committee.
(4) Any person who participates with or assists the peer review committee with respect to the action.