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Committee hears bill to stop annual submissions of title-audit reports, standardize surety bonds at $100,000 and remove small‑county exemption for controlled‑业务
Summary
A Kansas Senate committee heard testimony on Senate Bill 22, which would require title‑insurance audits to be available for inspection rather than submitted annually, set a uniform $100,000 surety bond or letter of credit for title agents, and remove a county population exemption that now limits enforcement of controlled‑business rules.
At a Kansas Senate Committee on Financial Institutions and Insurance hearing, committee staff member Eileen opened discussion of Senate Bill 22, saying the bill would require title agents to make audit reports available for inspection rather than submitting them annually, set a uniform $100,000 surety bond or revocable letter of credit, and eliminate an exemption for controlled‑business limits in counties with populations of 10,000 or fewer.
The bill amends Kansas statutes KSA 40‑1137 and KSA 40‑1139 (title agent audit and bond requirements) and KSA 40‑2404 (unfair methods of competition in insurance). "Senate Bill 22 requires title agents to make their audit reports available for inspection instead of submitting those reports annually," Eileen said during her briefing.
Kyle Strauthman, deputy chief of staff at the Kansas Department of Insurance, testified in support and described the department’s rationale. Strauthman said the department currently receives thousands of audit reports each year but is not required by statute to…
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