Tex. Ins. Code Section 102.002
Qualified Charitable Gift Annuity

A charitable gift annuity is a qualified charitable gift annuity for purposes of this chapter if it was issued before September 1, 1995, or if it is:

(1)

described by Section 501(m)(5), Internal Revenue Code of 1986; and

(2)

issued by a charitable organization that on the date of the annuity agreement:

(A)

has, exclusive of the assets funding the annuity agreement, a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities; and

(B)

has been in continuous operation for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least three years.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.

Source: Section 102.002 — Qualified Charitable Gift Annuity, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­102.­htm#102.­002 (accessed Jun. 5, 2024).

Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 102.002’s source at texas​.gov