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Minutes for HB2235 - Committee on Financial Institutions and Pensions
Short Title
Updating provisions of the technology-enabled fiduciary financial institutions (TEFFI) act by making the act part of the state banking code, adjusting and providing certain definitions, reducing the TEFFI charter application fee, authorizing the issuance of certificates and trust certificates, providing for the supervision of TEFFIs by the state bank commissioner and including Kansas nonprofit corporations as qualified charities for the TEFFI income tax credit.
Minutes Content for Fri, Feb 14, 2025
Chair Hoheisel opened the hearing on HB 2235 and recognized David Wiese, Senior Revisor, Office of the Revisor of Statutes to provide an overview. (Attachment10) A question and answer period followed.
Proponents - Chair Hoheisel recognized the following individuals who spoke in support of HB 2235: Jeff King, Attorney, Crossroads Legal Solutions, representing Beneficient and Beneficient Fiduciary Financial (BFF), provided some information about BFF and the Technology-Enabled Fiduciary Financial Institutions (TEFFI) Act, (no written testimony), and Derek Fletcher, President and Chief Fiduciary Officer, Ben-The Beneficient Company Group, LP, (Attachment11). A question and answer period followed.
Proponents Written Only - Alan Deines, Managing Director, Co-Head Fiduciary Financial Institutions, Ben-The Beneficient Company Group, LP. (Attachment12).
Neutral - Chair Hoheisel recognized Brock Roehler, General Counsel, Office of the State Bank Commissioner who provided OSBC neutral position on HB 2235. (Attachment13) . OSBC testimony was authored by David Herndon, State Bank Commissioner. A question and answer period followed.
Opponents - none
Chair Hoheisel closed the hearing on HB 2235.
