Introduced in the House on January 25, 2008, to authorize the Kansas Insurance Commissioner to order the "market conduct examination" of any insurance company doing business in Kansas. Such examinations are more detailed than financial audits and are typically employed when misconduct is suspected.
Referred to the House Insurance and Financial Institutions Committee on January 28, 2008.
Reported to the House on February 26, 2008, recommending the bill be passed as amended. House committee renamed the new audits as “market regulation examinations” and clarified that all insurance companies doing business in Kansas would be subject to the exam at the Insurance Commissioner's discretion
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Passed in the House (123 to 0) on February 28, 2008, to authorize the detailed "market regulation examination" of any insurance company at the discretion of the Kansas Insurance Commissioner. [Vote Details and Comments]
Received in the Senate on March 4, 2008.
Referred to the Senate Financial Institutions and Insurance Committee on March 5, 2008.
Reported to the Senate on March 18, 2008, recommending the bill be passed.
Passed in the Senate (37 to 0) on March 18, 2008, to authorize the detailed "market regulation examination" of any insurance company at the discretion of the Kansas Insurance Commissioner. Because the Senate did not change the bill in any way, it is thereby forwarded directly to the governor for her consideration. [Vote Details and Comments]
Signed by Gov. Kathleen Sebelius on March 28, 2008.