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Minutes for HB2554 - Committee on Financial Institutions and Rural Development

Short Title

Converting the conditional charter issued for the pilot program under the technology-enabled fiduciary financial institutions act to a full fiduciary financial institution charter.

Minutes Content for Mon, Feb 7, 2022

Chair Kelly opened the hearing on HB 2554 and SB 337, to be heard concurrently, recognized David Wiese, Assistant Revisor, Office of Revisor of Statutes, who briefed the committee on the HB 2554 and SB 337, (Attachment1).

Proponents - Chair Kelly recognized Matt Shoger, Staff Attorney, Office of State Bank Commissioner, who spoke in support of HB 2554 and SB 337(Attachment2). No questions presented.

Chair Kelly recognized Derek Fletcher, President and Chief Fiduciary Officer, The Beneficient Company Group, who was not a scheduled conferee (no written testimony), but made several brief remarks in support of HB 2554 ad SB 337.

Neutral - None

Opponents - None

Chair Kelly closed the dual hearings on HB 2554 and SB 337.