The bill amends various sections of the Kansas Statutes Annotated concerning the regulation of insurance companies, health maintenance organizations, and related entities. It establishes that individuals must obtain written authority from the commissioner of insurance before selling stock in these organizations, with a licensing fee capped at $100. The bill also modifies the requirements for insurance companies to file a written consent for legal actions, removing the term "irrevocable." Additionally, it updates the fee structure for various insurance-related filings and introduces new compliance requirements for insurers using managing general agents (MGAs), including independent financial examinations and notification obligations.

Moreover, the bill outlines new licensing requirements for administrators and pharmacy benefits managers, including surety bond requirements and application fees. It also clarifies the conditions under which purchasing groups and captive insurance companies can operate, while introducing provisions for dormant captives and special purpose insurance captives. The bill emphasizes the importance of compliance with continuing education for insurance agents and modifies the licensing process for reinsurance intermediaries. Overall, the amendments aim to enhance regulatory oversight, streamline processes, and ensure financial accountability within the insurance sector in Kansas.

Statutes affected:
As introduced: 40-205a, 40-218, 40-252, 40-2, 40-504, 40-956, 40-22a04, 40-2604, 40-2702, 40-3213, 40-3304, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509
As Amended by House Committee: 40-205a, 40-218, 40-252, 40-2, 40-504, 40-956, 40-22a04, 40-2604, 40-2702, 40-3213, 40-3304, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509