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Committee gives due-pass recommendation to measure moving securities duties to insurance commissioner
Summary
The Senate Industry and Business Committee voted 4-1 to recommend Senate Bill 2214, which would transfer securities-commissioner duties to the elected insurance commissioner; supporters cited resource and enforcement benefits while at least one senator raised concerns about independence and appointment authority.
The Senate Industry and Business Committee voted 4-1 to recommend that the Legislature transfer the duties of the securities commissioner to the elected insurance commissioner, approving Senate Bill 2214 on a committee-level due-pass recommendation.
Insurance Commissioner John Godfrey told the committee the move would provide the securities division with immediate access to legal,…
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