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Minutes for SB22 - Committee on Insurance
Short Title
Requiring title agents to make their audit reports available for inspection instead of submitting such reports annually, requiring the amount of surety bonds filed with the commissioner of insurance to be $100,000 and eliminating the controlled business exemption in certain counties.
Minutes Content for Mon, Mar 3, 2025
The Chair opened the hearing on SB22. Assistant Revisor Ma presented an overview of the bill and stood for questions. (Attachment 2)
Written-only proponent testimony was provided by Ashley Garr, on behalf of Kansas Land and Title because this bill removes the current tiered schedule and replaces it with a standard requirement fora $100,000 surety bond or irrevocable letter of credit regardless of county population, giving title agents more time to budget for and obtain new surety bonds. (Attachment 3)
There were no proponent, neutrals, or opponents present.
The hearing on SB22 was closed by the Chair.
