Minutes for HB2101 - Committee on Financial Institutions and Insurance

Short Title

Updating state credit union statutes.

Minutes Content for Thu, Mar 14, 2019

Chairman Olson opened the hearing on the bill and called for a Revisor of Statutes overview of the bill. Eileen Ma provided the overview.

(Attachment 1)

Chairman Olson called for proponent testimony.

Proponent Jerel Wright expressed his departmental support for the proposed changes. He indicated that his agency has worked closely with Heartland Credit Union Association and asserted that in his opinion Kansas credit unions and their members would be well served by the passage of this bill.

(Attachment 2)

Proponent Stephanie Mollholland indicated that the bill would bring Kansas credit union law up to date and continue to protect the locally operated, not-for-profit structure of credit unions. She explained that the bill proposed some technical clean-up, would eliminate duplicative and outdated language and modernize the process of providing consumer-focused updates.

(Attachment 3)

Written Only Proponent Testimony:

Shahira Stafford, Kansas Cooperative Council

(Attachment 4)

Seeing no additional testimony Chairman Olson closed the hearing on the bill.