Tex. Ins. Code Section 102.001

In this chapter:


“Charitable gift annuity” means an annuity:


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


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


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.


“Charitable organization” means an entity described by:


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


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 Nov. 25, 2023).

Nov. 25, 2023

§ 102.001’s source at texas​.gov