Amending the Kansas parimutuel racing act regarding qualifications for an organization license, the definition of horsemen's associations and horsemen's nonprofit organizations and the distribution of certain tax revenues.

Based on the bill text provided (noting the title appears inconsistent with the actual content), SB 21 amends Kansas insurance law to require third-party administrators to hold client funds in separate fiduciary accounts, one per payor, preventing commingling of funds from multiple clients. It mandates detailed accounting to payors, restricts fund withdrawals to specific purposes (like paying claims or returning premiums), and requires immediate disclosure to the insurance commissioner if an administrator files for bankruptcy under Chapter 9 or 11. This directly affects insurance third-party administrators and the payors (such as insurance companies or policyholders) who use their services. The bill repeals previous sections and takes effect upon publication.