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Minutes for HB2547 - Committee on Financial Institutions and Insurance

Short Title

Authorizing technology-enabled fiduciary financial institution insurance companies within the captive insurance act and providing for the requirements and operations thereof.

Minutes Content for Tue, Mar 8, 2022

 

Chairperson Longbine opened the hearing on HB2547.  Once again, he told the members that because HB2547 is the identical bill to SB377, which Senate Financial Institutions and Insurance Committee heard on January 27, 2022, and passed, as amended, on February 7, 2022, with favorable recommendation, he did not require the proponent to appear in person.

David Wiese, Assistant Revisor of Statutes, ROS, presented the Revisor's Memorandum, an overview of the bill. (Attachment 3)

The Chairperson pointed the committee's attention to the proponent written-only testimony of Derek Fletcher, President and Chief Fiduciary Officer of The Beneficient Company Group. (Attachment 4)

 

The Chairperson asked if there were any questions for David Wiese or regarding Mr. Fletcher's written testimony.  Seeing none, Chairperson Longbine closed the hearing on HB2547.

The Chairperson gave the committee a brief reminder on the hearings scheduled for tomorrow and Thursday, and a quick preview of the committee activity for next week, which is the committee's last week to meet to hear or work on bills.

The meeting adjourned at 9:45 AM.  The next scheduled meeting is 9:30 AM on Wednesday, March 9, 2022 in Room 546-South of the Capitol.