ALABAMA

Alabama State Law takes the position that charities wishing to issue charitable gift annuity (CGA) agreements to its residents are issuing securities and must file for an exemption from regulation by filing a written notice with the Alabama Securities Commission specifying the terms of its offer pursuant to the Code of Alabama, 1975, Section 8-6-10(8).

Disclosure is required in CGA agreement. [See item "(11) E." in "Requirements List", next item below].

"Requirements List" [provided by Alabama Securities Dept] to file for an "exemption" to issue charitable gift annuities. Click here for the "Requirements List".

Charity must submit appropriate forms listed in xRequirements Listx above. Forms U-2, U-2(A), Consent to Service of Process and a Corporate Resolution, as well as Form E-4, can all be accessed via the NASAA web site link: www.nasaa.org/industry___regulatory_resources/Uniform_Forms/

The contact person in the Alabama Securities Commission is: Lisa M. Tolar, Securities Registration Manager, Licensing and Registration, Alabama Securities Commission, 770 Washington Avenue, Ste. 570, Montgomery, AL 36130-4700, Phone: (334) 242-2984, Toll Free: (800) 222-1253, Fax: (334) 242-0240, E-mail: lisa.tolar@asc.alabama.gov

Alabama Securities Commission will respond within 15 days of a charity's filing IF it chooses to disallow the charity's exemption.

State Contact

Lisa M. Tolar
Securities Registration Manager
Licensing and Registration
Alabama Securities Commission
770 Washington Avenue, Ste. 570
Montgomery, AL 36130-4700

Phone: (334) 242-2984
Fax: (334) 242-0240
Toll Free: (800) 222-1253

E-mail: lisa.tolar@asc.alabama.gov

This page updated February 8, 2005.

The user of this information is solely responsible for determining and verifying the accuracy of the data presented here and how it is used by the reader. This information is provided solely as a resource.

Click here to see the Master Set of 6 Gift Annuity Agreements (offered by Planned Giving Resources, Inc.) that will work in all 50 states (with the addition of the "Extra Wording" state specific "disclosure language" that is now required by 30 states.)