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State Agent Information

 

Simmons Endowment Fund

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The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.

 

Massachusetts

Regulation of Charitable Gift Annuities

Degree of Regulation:

Charitable gift annuities are exempt from regulation by the Massachusetts Insurance Code under Chapter 175, Sec. 118 of the General Laws of Massachusetts

Actions Required for Exemption:

No action is required for exemption.  Organizations incorporated for any educational, charitable, benevolent or religious purpose are not deemed life insurance companies and are exempt from insurance regulation.

Disclosure and Agreement Content Requirements:

None

Reserve Requirements:

None

Annual Reporting:

None

Compliance/Enforcement:

None

Links to State Regulations Pages:

Chapter 175, Sec. 118 of the General Laws of Massachusetts

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