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Panel debates bill to move securities duties to insurance commissioner; no final vote taken
Summary
Senate Industry and Business Committee members debated a bill to have the insurance commissioner assume the duties of the securities commissioner but did not take final action; a "do pass" motion failed for lack of a second and a later "do not pass" motion was withdrawn before a vote.
Senators on the Senate Industry and Business Committee debated legislation to transfer the duties of the securities commissioner to the state insurance commissioner but took no final action at Wednesday’s meeting.
Chairman Barta introduced Senate Bill 2214 as a proposal that would have the insurance commissioner assume the duties of the securities commissioner. Ross Layton, chief of staff to the governor, told the panel the measure is not part of a specific merger bill currently in the Senate but could fit within broader administration efforts to seek efficiencies across state government. "It is not a part of the bill that was introduced in…
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