Captives in Vermont will enjoy greater protection of their assets now that a bill has been passed by the state legislature that will allow for the separation of risk within a captive cell.
Legislation passed by the 2011 session of the Vermont legislature and signed into law by Gov. Peter Shumlin on May 11 expands the Granite State's captive laws. The legislation allows cells within a sponsored-cell captive to be formed as incorporated protected cells. This means captives will not have to worry about comingling assets, and they can separate risks.
"This bill is testimony to our commitment to keep pace with the changing needs of this industry," says Shumlin. "I commend the legislature for their hard work and commitment to keeping Vermont 'the gold standard' for captive domiciles."
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