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HB2418: Prohibiting the office of the state bank commissioner or any other state agency from becoming a receiver for a technology-enabled fiduciary financial institution that becomes insolvent or declares bankruptcy.
IntroducedHouse
Introduced
In Committee
Passed Chamber
Passed Both
Signed
Plain-Language Summary
This bill prevents the state's bank commissioner or other agencies from taking control of a technology-enabled financial institution that goes bankrupt. This means they won't be responsible for managing the company's assets and debts.
Who This Affects
Kansans who use these types of financial institutions, such as those with online investment accounts, may benefit from this bill by ensuring their funds are protected in case of bankruptcy.
Key Provisions
• Prohibits state agencies from becoming receivers for technology-enabled fiduciary financial institutions
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Timeline
Introduced
Sunday, January 11, 2026
Last Action
House Referred to Committee on Financial Institutions and Pensions
Jan 11, 2026
Sponsors
No sponsors listed.
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