Tex. Ins. Code Section 102.001
Definitions

In this chapter:

(1)

“Charitable gift annuity” means an annuity:

(A)

that is payable over the lives of one or two individuals;

(B)

that is made in return for the transfer of cash or other property to a charitable organization; and

(C)

the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.

(2)

“Charitable organization” means an entity described by:

(A)

Section 501(c)(3), Internal Revenue Code of 1986; or

(B)

Section 170(c), Internal Revenue Code of 1986.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.

Source: Section 102.001 — Definitions, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­102.­htm#102.­001 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 102.001’s source at texas​.gov