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Minutes for HB2134 - Committee on Financial Institutions and Insurance

Short Title

Updating the national association of insurance commissioners credit for reinsurance model law and codifying the credit for reinsurance model regulation.

Minutes Content for Tue, Mar 23, 2021

 

Chairman Longbine opened the hearing on HB2134.  Eileen Ma, Assistant Revisor, Kansas Office of Revisor of Statutes (ROS) presented an overview of the bill.   (Attachment 1)

 

Lee Modesitt, Director of Government Affairs and Communications, Kansas Insurance Department (KID), appeared in person as the only conferee and oral proponent of the bill.  He told members that SB28 is the same bill as HB2134.  Also, SB78 is the same bill as HB2136 with a couple of small differences.   Answering a question from Senator Peck, Mr. Modesitt indicated that the SB28 and HB2134 were identical.   (Attachment 2)

There being no other questions, and no other proponent, opponent, or neutral testimony submitted, Chairman Longbine closed the hearing on HB2134.

The Committee decided that they would take action on this bill.

Eileen Ma, ROS, stated that she had an amendment on HB2134 on the last page of this 60 page bill that changed the effective date from its publication in the statute book to become effective upon its publication in the Kansas Register.

Senator Olson moved, seconded by Senator Peck, to adopt the proposed amendment as stated by Ms. Ma.  The amendment was adopted

Senator Olson moved, seconded by Senator Holscher, to pass HB2134, as amended, with favorable recommendation from the committee.  The motion carried.