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Minutes for SB402 - Committee on Financial Institutions and Insurance
Short Title
Updating producer licensing statutes pertaining to appointment, fees, licensing, renewal dates, continuing education, suspension, revocation and denial of licensure and reinstatement.
Minutes Content for Wed, Feb 19, 2020
Chairman Olson called upon Eileen Ma for a Revisor of Statues review of the bill.
Chairman Olson called upon Lee Modesitt for the regulatory perspective of the bill. He explained his department's support for the bill because it makes more uniform the process of agents based in Kansas to do business in other states and also makes it easier for out-of-state agents to be licensed in Kansas. (Attachment 7)
Chairman Olson called upon Zachary Anshutz who expressed support for the added access to the NIPR database. He supported the 15 day reporting requirement and four dollar increase in renewal fees. (Attachment 8)
Chairman Olson suggested that the conferees with concerns meet and attempt to establish common ground.
Written Only - Proponent
Bill Sneed, The State Farm Insurance Companies (Attachment 9)
Scott Colby, National Association of Insurance and Financial Advisors of Kansas (Attachment 10)
Bob Shields, Kansas Association of Professional Insurance Agents (PIA) (Attachment 11)
Chairman Olson called upon Will Larson for neutral testimony. Mr. Larson applauded the bill for on several counts, but expressed concerns for smaller agents to absorb increased training hours required by the bill. (Attachment 12)
Seeing no additional questions or testimony, Chairman Olson closed the hearing on the bill.
