The district, the commission, the parish of Terrebonne, and its agencies, and any insurer of these groups shall not:
(1) Be liable for damages caused by activities required to be undertaken under the terms and conditions of any state and/or federal laws or permits required for reef development.
(2) Any person or company who has transferred title of artificial reef construction materials to the district shall not be liable for damages arising from the use of such materials in an artificial reef, if such materials meet applicable requirements of the National Artificial Reef Plan published under Section 204 of the National Fishing Enhancement Act, and United States Department of Interior Regulations.