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Minutes for SB283 - Committee on Financial Institutions and Insurance
Short Title
Pertaining to trust companies and the office of the state bank commissioner.
Minutes Content for Tue, Jan 23, 2018
Eileen Ma presented an overview of the bill and answered a question from Senator Pyle regarding the difference between common trust and collective investment funds. Ms. Ma deferred the question to Michelle Bowman, State Bank Commissioner, who was present in the audience as a visitor. She consented to answer questions at the appropriate time.
Brock Roehler, Staff Attorney, Office of the State Bank Commissioner (OSBC) presented testimony supporting the bill. He explained that the bill will update the Kansas Banking Code and contains several provisions to protect and preserve the integrity of the banking system and permit the OSBC to recruit personnel to fulfill the agency's regulatory responsibilities. (Attachment 1)
Mr. Roehler and Ms. Bowman responded to questions from Senators Pyle, Suellentrop, and Olson.
Kathy Taylor, Kansas Bankers Association (KBA), appeared for Doug Wareham, Kansas Bankers Association, who had a last minute schedule conflict. Ms. Taylor detailed several sections of SB283 that would update the state banking code. She shared that the OSBC had provided KBA information and background on these changes last fall, so they had ample opportunity to review and consider the changes. Ms. Taylor shared that the KBA is fully supportive of SB283. (Attachment 2)
There being no further questions or discussion, and no other proponent, opponent, or neutral testimony submitted, Chairperson Longbine closed the hearing on SB283. He asked the committee to turn their attention to SB284.
