Maine law seeks to boost captive industry
June 11, 2009 -
AUGUSTA, Maine—Gov. John E. Baldacci has signed a measure modernizing the state's captive insurance statute, which Maine officials hope will spark development of the captive insurance industry in the state.
Maine has had a captive law since 1997, though it has no captives, a fact Maine Sen. Justin Alfond, D-Portland, who sponsored the captive modernization bill, attributed to the state's original captive law being overly restrictive.
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