 Charitable Gift Annuities regulated by State Code Section 23-63-201(d). Permit issued/regulated by State Insurance Department.
Board resolution is required.Permit issued/regulated by State Insurance Department.
Annual filing is required.
Modest investment limitations.
Reserve required. Rules apply to reserves for all states.
Charity must be in continuous operation for 5 years before it can issue a gift annuity agreement.
Federal law (Public Law 104-62) also requires charity to supply a Gift Annuity Disclosure Statement to all annuitants in the Fund and to all prospective donors prior to making their first annuity gift.
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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.)
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