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Vermont enacts new captive insurance law relating to dormancy

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Vermont enacts new captive insurance law relating to dormancy

Vermont Gov. Peter Shumlin has signed legislation supporting the state's captive insurance lawin areas including refining governance standards and expanding dormancy.

The measure also allows for cells to be transferred, sold, assignedor converted to stand-alone captives without affecting the rights or obligationsof the cell.

The law became effective April 13, according to an April 20 newsrelease.