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Minutes for HB2510 - Committee on Financial Institutions and Insurance
Short Title
Updating certain investment limitation requirements to provide increased options for Kansas domiciled life insurance companies investing in equity interests and preferred stock.
Minutes Content for Tue, Mar 8, 2022
Chairperson Longbine opened the hearing on HB2510. He told the members that because HB2510 is the identical bill to SB336, which Senate Financial Institutions and Insurance heard on January 25, 2022, and passed with no amendments on February 2, 2022, with favorable recommendation, he did not require the proponent to appear in person.
Eileen Ma, Assistant Revisor of Statutes, Kansas Office of Revisor of Statutes (ROS), presented the Revisor's Memorandum, an overview of the bill. (Attachment 1)
Chairperson Longbine pointed the committee's attention to the proponent written-only testimony of Chris Swickard, Vice President and Associate General Counsel, Security Benefit Life Insurance Company. (Attachment 2)
The Chairperson asked if there were any questions for Eileen Ma, or regarding Mr. Swickard's written testimony. Chairperson Longbine and Ms. Ma answered a question from Senator Gossage relating to whether the bill offered the same financial stability and the normal reviews and audit processes already in practice; she was assured that those practices had not been changed in HB2510.
The Chairperson asked for other questions or if there were any others who wanted to testify as a proponent, opponent, or neutral party. Seeing no one, Chairperson Longbine closed the hearing on HB2510.
