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Charitable Gift Annuities Contract Requirements

Charitable Gift Annuities Contract Requirements

D ifferent states have different Charitable Gift Annuities Contract Requirements.

Arizona

(written notice to the donor in a separate paragraph in the annuity, in a print that is at least the size used in the annuity agreement generally)

The charitable gift annuity is not insurance under the laws of the State of Arizona, is not subject to regulation by the director and is not protected by any state guaranty fund.

Florida

(Annuity agreement must contain the following clause)

This annuity is not issued by an insurance company, is subject only to limited regulation by the State of Florida and is not protected or otherwise guaranteed by any government agency.

Maryland

(Statement must be signed by prospective donor before accepting consideration for an annuity agreement or must be part of the signed annuity agreement.)

Payments made under charitable gift annuities are backed solely by the full faith and credit of ABC Charity and are not insured or otherwise guaranteed by any government agency.

Missouri

(written notice to the donor in a separate paragraph in the annuity, in a print that is at least the size used in the annuity agreement generally)

A qualified charitable gift annuity is not insurance under the laws of the state of Missouri and is not subject to regulation by the Department of Insurance or protected by a guaranty association.

Nevada

(written notice to the donor in a separate paragraph in the annuity, in a print that is at least the size used in the annuity agreement generally)

This gift annuity is not insurance under the laws of Nevada, is not subject to regulation by the Nevada Insurance Commissioner and is not protected by an insurance guaranty association.

Virginia

(written notice to the donor in a separate paragraph in the annuity, in a print that is at least the size used in the annuity agreement generally)

A charitable gift annuity is not insurance under the laws of the Commonwealth of Virginia and is neither subject to regulation by the Commission nor protected by the Virginia Life, Accident and Sickness Insurance Guaranty Association.