Loading chat...
KS HB2540
Bill
Status
2/17/2026
Primary Sponsor
Insurance
Click for details
AI Summary
-
Exempts contingent deferred annuities from the standard nonforfeiture requirements in K.S.A. 40-4,103 through 40-4,108
-
Grants the Kansas Commissioner of Insurance authority to establish nonforfeiture benefits for contingent deferred annuities through rules and regulations
-
Regulations must be equitable to policyholders, appropriate for the risks insured, and consistent with the general content of the standard nonforfeiture law where possible
-
Amends K.S.A. 40-4,102 and takes effect upon publication in the statute book
-
Requested by Prudential Financial, Inc. through the House Committee on Insurance
Legislative Description
Exempting contingent deferred annuities from certain requirements of the standard nonforfeiture law for individual deferred annuities act and authorizing the commissioner of insurance to establish nonforfeiture benefits for such contingent deferred annuities through rules and regulations.
Last Action
Senate Final Action - Passed; Yea: 39 Nay: 0
3/13/2026