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Committee hears bill to rename Kansas Insurance Department, alter securities commissioner appointment process
Summary
House Bill 2,333 would rename the Kansas Insurance Department the Kansas Department of Insurance, rename the Office of the Securities Commissioner as a securities division within the department, and remove the Senate confirmation requirement for the Assistant Commissioner overseeing securities.
The Kansas Senate Committee on Financial Institutions and Insurance opened a hearing on House Bill 2,333 on Feb. 20 to rename the Kansas Insurance Department as the Kansas Department of Insurance and to change the status and appointment process for the state securities regulator.
The bill would rename the Kansas Insurance Department (KID) as the Kansas Department of Insurance (KDOI); rename the Office of the Securities Commissioner of Kansas as the Department of Insurance Securities Division; rename the Securities Commissioner of Kansas as the Department of Insurance Assistant Commissioner, Securities Division; and remove the statutory requirement that a person appointed to that assistant commissioner post be confirmed by the Senate before taking office.
Committee staff said the text of the bill carries forward existing powers, duties and functions and provides that references in statutes, contracts or other documents to…
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