Duties of directors

September 17, 2014 House Bill 117 - 130th General Assembly The directors of a protected cell captive insurance company shall establish and maintain, or cause to be established and maintained, procedures to do all of the following: (A) Segregate cell assets and liabilities separate and separately identifiable from general assets and liabilities; (B) Segregate cell assets and liabilities of each protected cell separate and separately identifiable from cell assets and liabilities of any other protected cell; (C) Apportion or transfer, where relevant, assets and liabilities between protected cells or between protected cells and the general assets and liabilities of the protected cell captive insurance company.