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A
Good
morning
we'll
go
ahead
and
get
started
with
the
fifth
standing
meeting
of
the
house
committee
on
banking
and
insurance.
I
would
like
to
recognize
a
special
guest
that
we
have
in
the
room
today,
my
good
friend
leader,
rudy
and
in
his
honor
today.
A
C
E
A
A
If
not,
we
will
we
will
get
started,
senator
carpenter's,
not
here
yet
so
we'll
get
started
with
house
bill.
258.
A
And
if
he's
not
here
after
we're
done,
representative
fraser
gordon
will
present
his
bill
so
we'll
go
ahead
and
get
started
with
house
bill
258
this
morning
this
will
be
representative
tipton's
bill.
It
is
a
discussion
on
hands-free
driving
an
issue
that
representative
tipton
has
worked
on
for
several
sessions,
representative
tifton,
when
you're
ready.
If
you
would
introduce
your
guest,
I
think
you
have
a
couple
online
as
well
make
sure
everybody
knows
who
is
here
with
us
and
you
may
proceed.
Thank
you.
F
Chairman
roland,
it's
an
honor
to
be
here
this
morning.
I've
never
presented
in
banking
and
insurance
before
so.
It's
an
honor
to
be
here,
possibly
at
chairman
roland's
last
meeting
as
chair
appreciate
your
service
to
the
house
and
to
the
commonwealth.
I
have
with
me
this
morning.
Y'all
may
know
mark
trish
with
the
insurance
institute
online.
We
have
with
us
this
morning,
bruce
langsberg.
F
He
is
vice
chairman
of
the
national
transportation
safety
board
and
we
also
have
a
jennifer
smith
with
an
organization
called
stop
distractions
dot.
Org
recently
I
was
driving
from
lexington
back
toward
frankfort
back
toward
home.
I
saw
a
sign
on
the
side
of
the
road.
It
said,
buckle
up
phone
down
kentucky,
and
that
reminded
me
of
a
sign
that
when
I
went
to
the
southern
legislative
conference
back
in
the
summer
in
nashville
driving
down
65
when
I
crossed
into
the
tennessee
line,
I
saw
a
similar
sign.
It
said
buckle
up
phone
down.
F
F
However,
since
that
time
there
have
been
many
more
apps
that
are
out
there.
We've
got
facebook,
twitter
instagram,
probably
even
many
more-
and
I
was
hoping
representative
koenig-
would
be
here
this
morning,
because
I'm
very
concerned
that
if
house
bill
606
passes
we're
going
to
have
a
lot
of
people
driving
down
the
road
placing
wagers
on
their
phone
while
they're
driving-
and
I
know
he
would
not
want
that
to
happen,
but
y'all
be
sure
and
remind
him
of
that.
When
you
see
him,
I
certainly
will.
F
I
got
a
press
release
last
april,
and
this
is
the
third
session
that
I
have
filed
this
legislation.
I've
had
the
opportunity
twice
to
present
this
in
the
interim
to
the
transportation
committee,
but
I've
never
been
to
bni
before,
but
I
got
a
press
release
dated
april
27
for
2021
and
it
was
from
in-call
any
of
y'all
know
what
in-call
is
y'all
familiar
with
that
organization,
and
it
was
to
let
everybody
know
that
in
call
adopted
the
distracted
driving
model
act
back
at
that
time
and
there's
even
chairman
roland
there's.
F
Even
a
quote
from
you
in
here
it
said,
kentucky
representative
bart,
rowland,
roland
chair
of
the
b
and
c
committee
said:
we've
had
a
lot
of
hard
work
on
this
model
and
had
extensive
discussions
for
for
several
months,
and
this
year
we
tried
to
adopt
the
prince
a
lot
of
the
principles
from
the
in-call
model
legislation
into
house
bill
258
and
I
think,
as
I'm
reading
the
purpose
statement
of
the
in-call
model
act.
I
just
want
to
share
that
with
you,
because
I
think
it
applies
to
what
we're
doing
here
today.
F
This
model
provides
a
structure
to
strengthen
distracted
driving
laws
across
the
country
by
establishing
a
comprehensive
hands-free
law
to
curb
driver
distraction,
including
manual
visual
and
cognitive
distraction,
to
reduce
highway
fatalities,
save
lice,
reduce
auto
crashes
and
make
roads
safer.
The
model
enables
law
enforcement
to
ticket
drivers
for
holding
a
mobile
device
and
limits
use
of
a
mounted
or
hands-free
device
while
operating
a
motor
vehicle,
including
texting,
viewing
videos
or
images
entering
data
and
talking
or
broadcasting
content
exceptions
are
provided
for
emergencies
for
certain
voice,
activated
technology,
for
navigation
and
for
single
swipe
activation.
F
C
A
F
Representative
representative
pilot
I'll
be
back
next
year:
okay,
I'll
be
I'll,
be
back
next
year,
but
you
know
I
want
to,
along
with
heightened
public
awareness,
targeted
research
and
development
of
technology
to
mitigate
risk.
The
enactment
of
primary
enforcement
laws
is
an
important
part
of
the
strategy
to
reduce
tragic
traffic
deaths
in
life
altering
crashes,
and
I
mentioned
that,
because
it's
come
to
my
attention
that
some
people
may
have
some
concerns
about
this
being
a
primary
offense
and
from
everybody
that
I've
talked
to.
F
If
this
is
not
a
primary
offense,
it
will
not
be
effective
at
all.
There's
a
lot
of
organizations
before
I
forget
it.
I've
got
representatives
from
kentucky
motorcycle
association
leadership
in
that
organization,
on
behalf
of
their
180
000
members
across
the
state
who
are
here
to
show
their
support
I'll
be
happy
to
get
more
into
the
content.
If
you
have
questions
in
the
in
a
few
minutes,
but
I
think
I'd
like
to
have
my
guests
have
the
opportunity
to
share
this
morning
so
mark.
Won't
you
start
off
there.
G
Thank
you
representative.
Mr
chairman
members
of
the
committee,
as
representative
tipton
said,
I'm
mark
trish,
I'm
the
executive
director
of
insurance
institute
of
kentucky.
We
are
the
state
trade
association
for
property
and
casualty
and
life
insurers
and
this
bill.
I
just
want
to
tell
you
three
things.
This
bill
is
the
number
one
priority
for
my
members
this
session,
mainly
because
my
members
are
the
ones
that
process
the
claims
that
result
from
distracted
driving.
G
Second
thing
I
want
to
tell
you:
is
there
was
a
poll
done
by
mason
dixon
polling
in
january
of
this
year
and
your
constituents
are
for
this
bill.
The
top
line
of
it
was
81
percent
of
your
constituents.
Statewide
favor
this
bill,
and
the
third
thing
I
would
say,
is
just
echo
what
representative
tipton
said.
G
F
E
Hope
so,
sir,
how
do
you
hear
me.
E
Very
good
good
morning,
chair
rollin
and
committee
members,
and
thank
you
for
providing
the
national
transportation
safety
board
this
opportunity
to
discuss
our
recommendations
on
distracted
driving.
The
ntsb
is
an
independent
federal
agency,
charged
by
congress
to
investigate
transportation,
accidents
and
crashes
across
all
modes,
determine
their
probable
cause
and
make
recommendations
to
prevent
a
recurrence.
E
E
E
E
about
10
of
those
deaths
were
attributed
to
distracted
driving
and
even
with
that
high
number.
We
think
it
is
likely
grossly
underestimated,
because
there
is
no
reliable
method
to
determine
how
many
crashes
involve
portable
electronic
devices,
making
the
true
scope
of
this
issue
very
difficult
to
know.
It's
certainly
much
larger
than
reported
and
I'd
like
to
point
out
that
every
one
of
the
distracted
drivers
who
caused
these
crashes
was
certain
they
could
multitask
effectively.
E
What
we
do
know
is
that
the
risk
of
a
crash
is
higher
when
a
driver
uses
an
electronic
device,
and
studies
clearly
make
the
case
that
the
use
of
portable
electronic
devices
by
drivers
is
dangerously
distraction,
and
it's
not
just
about
holding
a
device
in
your
hand
or
glancing
away
from
the
road.
It's
the
mental
strain
from
the
driving
tasks.
E
E
The
approach
of
smart
laws,
solid
education
and
intelligent
enforcement
has
worked
in
the
past
with
the
widespread
use
of
seat
belts
before
seat
belts
were
required.
Only
14
percent
of
occupants
used
them
after
state
started,
passing
seat
belt
laws,
their
use
jumped
to
59
percent
and
today,
with
stronger
seat
belt
laws.
High
visibility,
enforcement
and
education
campaigns
seat
belt
usage
is
approximately
90
states,
such
as
kentucky
with
the
strongest
laws.
Those
enabling
primary
enforcement
have
the
highest
usage
rate.
E
E
F
H
H
We
are
an
organization
that
consists
of
families
of
victims
that
have
been
impacted
by
distracted
driving
across
the
country.
We
work
on
changing
the
culture
behind
distracted
driving
and
saving
lives.
So
no
one
has
to
experience
what
we
have
been
through.
I
recall
just
a
couple
years
ago
I
came
out
to
kentucky
to
speak
at
the
first
committee
hearing
in
the
interim
study
and
there
had
just
been
a
crash,
a
severe
crash
where
there
was
a
fatality,
because
a
truck
driver
was
watching
video
while
driving.
H
If
I
recall
correctly,
these
crashes
are
happening
every
day.
The
the
big
support
of
these
bills
is,
they
can
like
they
said
the
polling.
The
constituents
want
it
in
every
state.
We
are
seeing
over
80
percent
constituent
support.
We
all
know
we
shouldn't
be
on
our
phones
while
driving
this
law
is
about
preventing
injuries
and
saving
lives.
It's
not
about
writing
tickets.
It's
about
changing
the
culture
to
make
roads
safer,
so
families
can
be
at
home
with
one
another.
H
This
law
will
give
increased
ability
to
enforce
the
law
like
he
said
there
is
a
texting
law,
but
these
laws
have
not
evolved
with
the
technology.
If
you
know,
if
anyone
has
a
child,
that's
you
know
under
35
they
facetime
when
they
make
phone
calls,
they
don't
call.
Just
you
know,
hands-free
or
hand-held.
These
are
behaviors.
We
need
to
address.
People
are
live
streaming,
while
they're
driving,
so
the
the
current
law
is
just
outdated
and
unenforceable
by
removing
the
phone
from
the
driver's
hand,
it
removes
all
of
the
ambiguity.
H
H
We
are
looking
at
telematics
data
and
it's
showing
that
drivers
are
using
their
phones
to
type
and
swipe
up
to
50
more
before
they
were
before
2020
and
with
speeding.
You
know,
just
as
drivers
are
speeding
more.
I
saw
data
last
week
that
speeding
is
starting
to
normalize,
but
those
phone
calls
and
that
telematics
are
just
skyrocketing.
H
With
these
laws
you
do
see
benefits
drivers
do
immediately,
stop
typing
and
swiping.
We
have
telematics
data
from
georgia,
showing
a
22
percent
drop
the
day.
The
law
went
into
effect.
That
law
has
been
very
successful
from
2016
to
2019,
adjusted
for
traffic
and
population
traffic
fatalities
in
georgia
have
decreased
by
12
percent.
H
H
We
also
have
we
could
look
at
indiana
indiana
passed
their
law
in
july
of
2020
that
year
they
saw
the
lowest
number
of
distracted
driving
crashes
they
had
seen
in
over
a
decade.
These
laws
don't
cost
constituents
extra
money
to
comply.
H
You
can
get
hands-free
phone
mounts
now
from
anywhere
one
to
five
dollars
that
you
can
put
in
your
air
vents.
The
phone
can
work
with
speakerphone.
If
you
don't
have
bluetooth
capability,
there's
apps.
You
can
download
on
your
phones
for
free
that
make
it
work
with
voice
activation.
So
these
laws
are
easy
to
comply
with
and
there's
a
root.
Insurance
telematics
report
shows
that
states
with
strict
primary
enforcement
laws
have
significantly
fewer
incidents
of
distracted
driving
with
75
percent
of
those
states
falling
below
the
national
baseline
for
distracted
driving
events.
H
H
F
F
F
F
The
law
does
allow
a
grace
period
of
three
months
as
it's
written
before
enforcement.
Just
a
few
of
the
highlights
I
wanted
to
mention,
and
I'll
say
this,
no
piece
of
legislation
is
perfect
over
the
summer
and
the
interim.
If
you
have
questions
today,
if
you
have
questions
over
the
interim
I'd,
be
happy
to
work
with
any
of
you
and
discuss
any
concerns
you
may
have
and
see.
F
If
we
can
come
to
resolutions,
because
this
issue
is
not
going
away
just
last
week,
I
was
stopped
at
a
red
light
out
on
127
coming
in
the
capitol
in
the
right-hand
lane.
Gentlemen,
in
the
left-hand
lane
the
whole
time
we
were
there
at
that
traffic
light.
He
was
on
his
phone.
The
light
turned
green.
I
looked
over.
He
started
off
guess
what
he
was
still
on
his
phone
looking
down,
so
we'll
be
happy
to
entertain
any
questions
or
comments.
You
may
have.
Thank
you,
mr
chairman.
A
Thank
you,
representative
tipton,
and
thank
you
for
your
work
on
this
issue.
I
am
supportive
of
this.
Obviously
this
was
an
encore
model
that
come
through
the
property
and
casualty
committee
that
I
get
the
privilege
to
chair
at
encore
and
to
me
it's
not
about
increased
penalties,
but
it's
about
changing
habits.
A
A
That
says
you
got
to
wear
a
seat
belt
and
then
to
the
comment
that
vice
chair
landsberg,
made
also
that
2010
accident
was
before
I
was
elected
to
the
general
assembly,
but
that's
in
the
district
that
happened
in
the
district
that
representative
meredith
used
to
represent,
and
then
I
represent
now
and
that
family
mennonite
family
actually
lives
in
a
district
that
I
still
represent.
So
I
know
that
accident
very
well.
It
made
national
news
and
it
was
very
tragic.
So
we
do
have
a
couple
of
three
questions
so
far.
C
Thank
you
and
thanks
for
bringing
this
before
us,
I
have
one
quick
question
just
about
the
roll
out
for
it.
I
don't
see
in
here
any
kind
of
appropriation
for
a
marketing
campaign
about
around
this,
and
I
just
was
wondering
if
you
were
supportive
of
that
and
what
you
thought
we
might
be
able
to
do
to
make
sure
that
we
get
the
word
out
about
this
good
project.
F
F
They
are
very
they're,
very
adamant
and
they're,
and
I've
been
in
contact
and
worked
with
them
on
this
legislation
as
well
about
the
buckle
up
phone
down
kentucky
we
didn't
put
anything
in
here.
Like
you
said,
it's
a
legislation
is
a
work
in
mark.
Did
you
have?
Are
you
aware
of
any
comments?
Any
comments
on
that
perspective
groups.
G
Well,
just
to
echo
that
comment,
the
kentucky
office
of
highway
safety
has
done
a
lot
of
promotional
programs
in
the
past.
I'm
sure
that
if
it
related
to
enforcement,
they
would
be
doing
that
some
of
the
larger
insurers
also
run
promotional
ads
about
safety
and
so
on.
So
I'm
quite
sure
that
both
industry
and
government
would
step
up
to
promote
the
idea.
I
Lockett,
thank
you,
mr
chairman.
I
just
had
a
question
really
about
enforcement
of
of
the
bill.
I
noticed
towards
the
end.
There
are
some
fines.
Of
course,
I
guess
if
you
got
pulled
over
and
the
officer
saw
that
you
had
your
phone
out.
Of
course
you
can
see
someone
if,
if
they
have
a
seat
belt
on
so
that's
easily
done
so
my
question
comes
on
the
second
page.
It
talks
about
in
section
c,
it
says
that
other
than
viewing
data
mapping
related
to
navigation.
I
So
if
you're
on
you
know
using
gps
directions
and
so
forth,
I'm
assuming
what
this
means
is
that
you
can
be
holding
your
phone
for
that.
So
I
guess
my
question
becomes:
how
does
a
police
officer?
How
does
that
person
that
pulls
you,
the
that
pulls
the
person
over?
I
How
do
they
know
what
you're
doing
on
your
phone-
and
you
mention
like
you
like
you
were
allowed
to
use
one
finger
to
you
know,
punch
a
button
or
what,
if
you
use
two
I
mean,
I
know
that's
silly,
but
but
it's
a
kind
of
my
question
would
be.
How
do
you
enforce
this.
F
Thank
you
for
that
question
and
I
think
I'll
start
with
we're
talking
about
the
difficulty
with
enforcing
the
texting
law
is
because
right
now
it's
illegal
to
text
and
drive.
So
how
does
a
law
enforcement
officer
know
that
a
simple
defense
is
well?
I
was
on
facebook.
I
was
checking
my
email
under
the
current
law.
That's
that's
not
against
the
law.
F
It
only
specifies
texting
and
to
your
point,
yes,
you
can
have
a
navigation
device,
but
you
cannot
hold
that
phone
in
your
hand,
you
cannot
hold
that
phone,
the
way
the
laws
written
with
either
hand
or
supported
by
your
body.
So
if
you,
if
you've,
got
like
if
you've
got
maps
like
I
have
on
my
phone,
I
mentioned
I've
got
that
center
console.
I
can
plug
my
maps
in
now.
You
need
to
plug
your
destination
in
before
you
start
driving
get
that
in
there
and
but
you
can.
F
You
can
have
that
there,
where
you
can
view
that
that's
allowed
under
this
legislation,
but
the
way
the
law
enforcement
officer
would
be
able
to
enforce
this.
They
would
actually
have
to
see
you
with
a
hand
with
a
phone
or
some
type
of
electronic
device.
In
your
hand,
I
will
tell
you
that
in
tennessee
it
was
mentioned.
I
mentioned
that
ncsl
conference.
F
The
way
they
got
the
message
out
is
the
state
police
in
tennessee
had
a
bus
going
down
the
interstate
and
it
was
marked
tennessee
state
police
and
there
were
troopers
on
that
bus
with
cameras
and
as
people
were
going
by,
they
were
taking
pictures
and
they
were
radioing.
Other
troopers
down
the
road
message
got
out
pretty
soon
that
you
know
that's
how
they.
That
was
just
a
roll
out
of
that
to
try
and
to
get
public
opinion
on
that.
G
Yeah
and
actually
representative,
if
you
look
at
subsection
a
above
that
where
it
defines
use
or
uses
it
talks
about
user
uses
includes,
you
know,
the
very
first
thing
is
holding
a
device
in
your
hand.
Now
that
means
it
has
to
be
up
on
a
mount
either.
You
know
I've
got
an
air
vent
mount
that
I
use
representative
tipton.
G
Has
a
cup
holder
mount
where
you
can
look
and
see
it
without
holding
at
your
hand,
but
even
then,
when
it's
on
the
mount
you're
not
allowed
to
watch
a
video
or
whatever
you
know
it
occurred
to
me
last
fall
when
we
were
drafting
this
legislation
that
there
was
nothing
in
the
bill
as
drafted,
then
that
would
have
prevented
me
from
logging
into
my
hulu
account
and
watching
the
world
series.
As
I
was
driving
down
the
road
until
you
know
that's
one
of
the
reasons
this
is
in
here
that
we
wanted
to
specifically
prohibit
it.
I
I
agree
with
that,
but
let's
just
not
talk
about
bruno.
A
Thank
you.
We
do
have
three
more
questions
and
since
this
is
discussion
only
this
morning,
we'll
wrap
it
up.
After
that
we
have
one
more
senate
bill
and
I
see
that
judiciary
committee
staff
has
already
gathered
outside
because
they
take
over
this
room
at
noon.
A
D
Thank
you,
mr
chairman.
I
think
it's.
I
think
it's
going
to
be
a
wonderful
bill.
Every
time
I'm
on
the
highway.
I
see
people
on
their
phones,
and
this
really
concerns
me
because
I
know
the
damage
that
can
be
done
in
an
auto
accident
and
if
it
saves
just
one
life,
we've
done
our
deal.
Do
we've
done
our
duty
as
legislators,
so
I'm
looking
forward
to
the
bill
coming.
Thank
you.
J
Thanks
chair
and
I
just
have
a
comment:
rape
tipton,
you
know
I
signed
on
to
this
bill
with
you.
I
think
it's
a.
I
think
it's
a
good
bill,
I
think,
of
every
single
person
in
this
room
we're
honest.
We
are
all
guilty
of
it
at
some
point,
but
I
think
looking
around
this
room,
we
are
all
experienced
drivers,
I'm
not
calling
us
old,
but
but
I
do
worry
about
our
young
people,
I
mean
all
of
us,
we
have
become.
J
You
know
we're
so
accustomed
to
just
being
on
our
phone
all
the
time.
It's
our
computer,
it's
our
calendar,
it's
it's
everything
to
us,
but
our
kids.
Even
more
so
you
know
they're
just
constantly
tied
to
their
phone
and
texting
their
friends,
and
so
you
know,
I
think,
the
bill,
even
though
many
of
us
probably
needed
I'm
most
happy
for
our
young
kids
that,
as
they
start
learning
to
drive
that
they
know
automatically
that
that
phone
has
to
go
down
thanks.
C
Thank
you
chairman.
My
question
would
be
for
the
insurance
companies.
Have
you
all
thought
about
maybe
signings
or
giving
some
kind
of
discount
for
people
that
would
purchase
hands-free
devices
and
maybe
would
sign
an
agreement
within
the
to
say
that
they
would
that
they
would
agree
to
drive
hands-free?
Is
that
something
I
would
consider.
G
That
would
be
up
to
you,
of
course,
insurance
is
a
competitive
market,
and
that
is
something
that
I'm
sure
a
lot
of
insurers
would
look
at.
Basically,
what
have
what
ends
up
happening.
Oftentimes,
of
course,
is
claims
drive
premiums,
the
higher
the
claims
are,
the
higher
the
premiums
are
in
general,
oh,
you
know,
but
there
are
a
lot
of
discounts
for
a
lot
of
things.
So
I
you
know
if
it
made
actuarial
sense,
which
would
the
problem
is
it
kind
of
enforcing
it
but
or.
C
A
My
guess
is
some
of
the
telematics
apps
that
the
insurance
companies
are
using
today,
probably
would
would
know
if
you
have
that
device
and
possibly
have
a
discount
built
into
it.
I
am
going
to
allow
one
more
question
from
a
good
friend,
representative,
flanders
and
then
we'll
move
on
to
the
next
topic.
Try.
K
To
make
this
quick,
I
support
the
intent
absolutely
and
I
think
we
all
recognize
that
we
need
to
do
things
to
make
the
roadways
safe
as
possible.
I
guess
my
question
is
more
from
the
for
the
insurance
industry.
189
already
requires
motorists
to
exercise
the
operational
vehicle
in
a
careful
manner
with
regard
to
pedestrians
and
and
other
vehicles
on
the
roadway.
So
is
there
a
deficiency
in
current
statute
that
you
think
this
will
address,
because
I
mean,
I
think,
that's
it's
very
simple
language,
but
it's
very
all-encompassing
as
well.
G
Representative,
I
think
it
just
adds
degree
of
specificity
and
as
representative
tipton
and
others
have
alluded
to
you
know,
a
texting
law
is
much
more
difficult
to
enforce.
Well,
I
wasn't
texting.
I
was
emailing
or
whatever
a
hands-free
law
is
kind
of
binary
you're,
either
holding
your
phone
or
you're.
Not
so
in
that
way,
it's
a
lot
easier
for
law
enforcement
to
decide
whether
you're
committing
a
violation
or
not.
K
G
F
F
I
think
this
is
more
about
public
awareness
and
just
making
people
aware
that
we
need
to
improve
our
bad
habits,
not
only
to
be
safer
for
ourselves
but
safer
for
other
people
on
the
road
and
hopefully
that
other
people
will
practice
safety
because
we
have
loved
ones
who
are
out
there
on
the
road
too.
I
see
this
is
just
reinforcing
the
need
in
making
people
aware
of
the
need
to
get
rid
of
some
of
those
bad
driving
habits
when
it
comes
to
distractions
and
in
in
devices
that
we
use.
G
And
just
follow
up
on
that
point.
I
was
going
to
make
if
an
officer
observed
you
say
drifting
across
lanes.
He
could
certainly
pull
you
over
and
maybe
cite
you
for
reckless
driving
this.
I
I
think
the
hands-free
law
does
a
couple
things
one.
It
helps
to
build
the
culture
and
the
other.
It
provides
a
more
enforceable
mechanism.
A
A
L
Jared
carpenter
center
for
34th
district-
and
I
knew
five
minutes-
was
going
to
cost
me.
45
minutes
life
lesson
there.
L
M
And
I
will
provide
a
brief
explanation
and
if
and
then
take
questions
after
that.
First
of
all,
I
think
chair
roland
and
the
members
of
the
committee
for
considering
this
bill
today
also
too,
and
expressed
my
appreciation
to
you
for
your
support
of
the
department
over
the
years,
and
I
enjoyed
working
with
you.
So
thank
you
so
much
for
that
chair
roland.
I
also
want
to
thank
senator
carpenter
for
sponsoring
senate
bill
298.
M
The
securities
industry
is
important
to
kentucky's
economy
and
capital
formation.
There
are
over
160
state
registered
investment
advisors
and
these
advisors
have
over
3
billion
in
assets
under
management.
The
department
has
discussed
this
initiative
in
the
initiatives
in
298
with
the
industry
and
they're
aware
of
the
requirements
of
the
bill.
The
bill
does
three
common
sense
things
number
one.
M
It
would
require
all
investment
advisors
registered,
kentucky
to
establish
written
policies
and
procedures
relating
to
business,
continuity
and
succession
planning,
but
also
require
the
each
investment
advisor
to
develop,
develop
and
implement
written
policies
regarding
physical
security
and
cyber
security
and
finally
senate
bill.
298
would
also
create
a
new
section
in
krs
292
to
establish
a
continuing
education
requirement
for
investment
advisor
representatives.
A
I
C
A
Yes
and
the
motion
does
pass.
Unfortunately
in
the
house
we
do
not
have
consent,
but
I
feel
good
about
your
chances
getting
it
through
on
the
house
floor.
Thank
you
all
for
being
here.
I
know.
Senator
carpenter
is
relieved,
and
now
he
can
concentrate
on
that
big
fishing
tournament.
That
he's
got
this.
L
L
Yeah,
mr
mr
chairman,
I
do
want
to
say
I've
appreciate
the
opportunity.
It's
been
a
great
relationship
you
and
I
have
had
with
the
senate
banking
insurance
and
the
house,
banking
and
insurance
committee,
and
not
all
committees,
have
the
same
relationship
and
you
know
we've
developed
a
great
friendship
and
it's
been
really
good.
So
I'm
trying
to
look
around
here
if
I
get
re-elected
and
come
back
and
sometimes
I
wonder
if
that's
really
what
I
want
should
do
or
not
anymore.