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Committee advances bill standardizing title-agent bonding, requiring audits be available for inspection
Summary
The Kansas Senate Committee on Financial Institutions and Insurance voted to advance House Bill 2,042 as amended; the measure standardizes title-agent surety bond amounts, requires audit reports be available for inspection, and removes a controlled-business exemption as written in the bill.
The Kansas Senate Committee on Financial Institutions and Insurance voted to advance House Bill 2,042 as amended. The bill, the House version of Senate Bill 22, would require title agents to make their audit reports available for inspection rather than submitting them annually, standardize the amount of surety bonds filed with the commissioner of insurance to $100,000, and eliminate the controlled-business exemption for real-estate transactions in…
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