As used in this chapter, the term: “Charitable gift annuity” means 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 annuity is less than the value of the cash or other property […]
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 July 1, 2000, is a qualified charitable gift annuity for purposes of this chapter, and the issuance of that charitable gift annuity does not constitute engaging in the business […]
When entering into an agreement for a qualified charitable gift annuity, the charitable organization shall 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 not subject to regulation by the Commissioner of Insurance or protected by an […]
A charitable organization that issues qualified charitable gift annuities shall notify the Commissioner in writing by the date on which it enters into the organization’s first qualified charitable gift annuity agreement. The notice shall: Be signed by an officer or director of the organization; Identify the organization; and Certify that: The organization is a charitable […]
The failure of a charitable organization to comply with the notice requirements imposed under Code Section 33-58-3 or Code Section 33-58-4 does not prevent a charitable gift annuity that otherwise meets the requirements of this chapter from constituting a qualified charitable gift annuity. The Commissioner may enforce performance of the requirements of Code Section 33-58-3 […]
The issuance of a qualified charitable gift annuity does not constitute a violation of Article 15 of Chapter 1 of Title 10. History. Code 1981, § 33-58-6 , enacted by Ga. L. 2000, p. 868, § 1.
