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Minutes for SB337 - Committee on Financial Institutions and Insurance
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 Wed, Jan 19, 2022
Chairperson Longbine opened the hearing on SB337. Eileen Ma, Assistant Revisor of Statutes, Kansas Revisor of Statutes Office (ROS), presented the Revisor's Memorandum brief of the bill prepared by David Wiese, Assistant Revisor of Statutes, ROS. (Attachment 10)
Oral Proponent Testimony
Melissa Wangemann, General Counsel, OSBC gave testimony supporting SB337 and stood for questions. There were none. (Attachment 11)
Derek Fletcher, President and Chief Fiduciary Officer, The Beneficient Company Group (Beneficient), presented proponent testimony and answered a question from Senator Pittman, with the help of Eileen Ma, ROS, and Brad Heppner, also with Beneficient. (Attachment 12)
Chairperson Longbine asked if there were any other questions, or additional proponent, opponent, or neutral testimony. Seeing none, he closed the hearing on SB337. He advised the committee to be prepared to work SB329 and SB337 tomorrow.
The meeting adjourned at 10:04 am. The next scheduled meeting is Thursday, January 20, 2022 in Room 546-East of the Capitol.
