Senator Reginald Murdock

Insurance & Commerce (Senate) — April 1, 2025 (1:42:36)

Senator McKee, all in favor say aye. Aye. Ayes

Insurance & Commerce (Senate) — April 1, 2025 (1:42:41)

have it. Congratulations. You passed your bill. Is there anything else coming for the

Insurance & Commerce (Senate) — April 1, 2025 (1:41:37)

those responses any other questions any other anything from the committee you'd like to close for you

Insurance & Commerce (Senate) — April 1, 2025 (1:41:43)

bill is there there's nobody speak for excuse me i'm sorry is anyone here to speak for or against no one you want to

Insurance & Commerce (Senate) — April 1, 2025 (1:40:34)

something that we have not done in Arkansas and we're giving the commissioner that latitude now and I just was wondering what you know that yeah and if

Insurance & Commerce (Senate) — April 1, 2025 (1:39:53)

Is there any checks and balances in that type of

Insurance & Commerce (Senate) — April 1, 2025 (1:39:57)

authority, if that makes sense? Um, we don't

Insurance & Commerce (Senate) — April 1, 2025 (1:39:35)

published way that that's done so that it's transparent, meaning it's not arbitrary or capricious, is what I'm saying, because it just gives the commission authority to impose something.

Insurance & Commerce (Senate) — April 1, 2025 (1:38:36)

require applicants for surety bonding for the surety bond to to add to obtain additional security coverage to address related to cyber security. So it gives some additional authority also to the commissioner. And

Insurance & Commerce (Senate) — April 1, 2025 (1:38:51)

that's become necessary because of what? That is correct, Mr. Chair. That's

Insurance & Commerce (Senate) — April 1, 2025 (1:38:19)

protect vulnerable Arkansans and there's some authority again on page three beginning at line 17 it gives the commissioner some discretion it adds some the commissioner having some discretion to

Insurance & Commerce (Senate) — April 1, 2025 (1:37:23)

it's a it's a large bill and whenever you see this much underlined i mean added legislation is just

Insurance & Commerce (Senate) — April 1, 2025 (1:35:17)

You're recognized for the next. What bill is it? House Bill 1467, Mr. Chair.

Insurance & Commerce (Senate) — April 1, 2025 (1:34:40)

ANY QUESTIONS FROM THE COMMITTEE? SEEING NONE, IS ANYONE HERE TO SPEAK

Insurance & Commerce (Senate) — April 1, 2025 (1:34:56)

pass. Motion do pass. Second. All in favor say aye. Aye. As amended. Excuse me. You want to stay here and

Insurance & Commerce (Senate) — April 1, 2025 (1:33:21)

the amendment. Been moved and second. All those in favor say aye. Aye. Opposed? Same sign. Your amendment has been adopted. Are

Insurance & Commerce (Senate) — April 1, 2025 (1:20:43)

Senator Johnson, excuse me, making all the decisions. You know, it just seemed like we should be careful of that. And I don't know the necessity of that. I understand the other things that you're doing, but what's the necessity of just giving that person all

Insurance & Commerce (Senate) — April 1, 2025 (1:20:55)

of that authority, if that makes sense? Gotcha. Good question.

Insurance & Commerce (Senate) — April 1, 2025 (1:20:06)

the exemption. No, I heard that's what I read, what you said. I just was wondering why we would take, because generally you know, because you're waiving what you're doing is you're waiving the requirements in certain situations for people to meet certain standards. And when that's being done it just, I just think we should be careful in allowing an individual to do that versus several eyes around the table. Kind of like us in the committee making a decision on a bill versus just a chair. Just Blake, just

Insurance & Commerce (Senate) — April 1, 2025 (1:19:36)

And in this case, that's what we're