Effective – 28 Aug 2001 352.500. Definitions. — As used in sections 352.500 to 352.520, the following terms mean: (1) “Charitable gift annuity”, a transfer of cash or other property by a donor to a charitable organization in return for an annuity payable over one or two lives, under which the actuarial value of the […]
Effective – 28 Aug 2001 352.505. Notice to department, contents. — 1. A qualified organization that issues qualified charitable gift annuities shall notify the department of commerce and insurance in writing by the later of ninety days after August 28, 2001, or the date on which it enters into the organization’s first qualified charitable gift […]
Effective – 28 Aug 2001 352.510. Notice to donors, disclosure, required. — When entering into an agreement for a qualified charitable gift annuity, the qualified organization shall promptly disclose to the donor in writing in the annuity agreement that a qualified charitable gift annuity is not insurance under the laws of this state and is […]
Effective – 28 Aug 2001 352.515. Issuance of annuity not business of insurance. — The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this state. A charitable gift annuity issued before August 28, 2001, is a qualified charitable gift annuity for purposes of this chapter and […]
Effective – 28 Aug 2001 352.520. Department, duties — fines levied against qualified organizations for failure to comply. — The department of commerce and insurance may enforce performance of the requirements of sections 352.505 and 352.510 by sending a letter by certified mail, return receipt requested, demanding that the qualified organization comply with the requirements […]
