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Committee places HB2540 (annuity nonforfeiture change) on consent calendar
Summary
The Committee on Insurance voted to pass House Bill 2540 favorably and place it on the consent calendar; the bill would clarify that standard nonforfeiture law for individual deferred annuities does not apply to contingent deferred annuities.
House Bill 2540 was presented to the Committee on Insurance as a technical change to Kansas statutes relating to individual deferred annuities. Eileen, the reviser, summarized that HB2540 would amend KSA 40-4-102 so that the standard nonforfeiture law for individual deferred annuities would not apply to contingent deferred annuities.
Representative Bergkamp moved that the committee pass HB2540 favorably and place it on the consent calendar; a second was recorded from Representative Neighbor. The committee voted in favor and the chair confirmed it would be placed on the consent calendar.
The transcript does not record floor debate or a vote tally beyond the committee's verbal 'aye' during the meeting. No substantive amendments or opposition were recorded in the committee discussion at this session.
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