House Status:
Senate Status:
Senate Status:
Minutes for SB377 - Committee on Insurance and Pensions
Short Title
Authorizing technology-enabled fiduciary financial institution insurance companies within the captive insurance act and providing for the requirements and operations thereof.
Minutes Content for Wed, Mar 9, 2022
Chairperson Johnson opened the hearing on SB377.
Eileen Ma, Assistant Revisor, Office of the Revisor of Statutes, provided an overview of the bill. (Attachment3) Ms. Ma stood for questions.
Proponent Testimony:
Derek Fletcher, President and Chief Fiduciary Officer, Beneficient Company Group, provided testimony in support of SB377 stating the company believes the statutory framework provided by SB377 will encourage technology enabled fiduciary financial institutions (TEFFIs) to form Kansas captives rather than domiciling those captives in other jurisdictions and doing so will not only meet the needs of the industry but will also lead to the expansion of economic opportunities for the state of Kansas. (Attachment4) Mr. Fletcher stood for questions.
There were no other questions or testimonies. Chairperson closed the hearing on SB377.
