Legal Developments
Vermont's Governor Officially Signs Captive Statute Changes into Law
Legislation recently signed into law by Vermont Governor Phil Scott will make several changes to Vermont's captive statute, including giving captives more time between mandatory financial examinations. Read More
Tennessee Looks To Revise Its Captive Insurance Company Statute
Legislation approved April 9, 2019, by Tennessee's House Insurance Committee would make several changes to the state's captive insurance company statute. Read More
Georgia Legislature Authorizes Cell Captive Formation
On April 2, the very last day of its 2019 session, the Georgia Legislature gave final approval to a measure updating the state's captive insurance company statute. The measure, HB 99, authorizes the formation of cell captives. Read More
House Financial Services Committee Passes SAFE Banking Act
The House Financial Services Committee recently voted 45 to 15 to pass H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The bill allows marijuana-related businesses in states with existing regulatory structures to access the banking system. Read More
Gallagher Seeks To Compel Arbitration with 831(b) Captive Owners
In an effort to compel arbitration, Arthur J. Gallagher & Co. and other defendants recently made joint motions in response to a lawsuit seeking class status filed in December 2018 by a group of 831(b) captive owner plaintiffs. Eversheds Sutherland provides a brief description of the matter as it stands currently. Read More