Degree of Regulation
Issuance of charitable gift annuities is regulated under West Virginia Code Section 33-13B-1-6.
In order to issue gift annuities in the state, a charity must meet the following regulatory requirements:
- have been in continuous operation for at least three years (or be a successor or affiliate of a charitable organization that has been in continuous operation for three years).
- have a minimum of $300,000 in unrestricted cash, cash equivalents, or publicly-traded securities, exclusive of the assets funding the annuity agreements
- provide notice to the Office of the Insurance Commissioner
Links to State Regulations Pages
West Virginia Insurance Department Contact Information
Cristy Dunlap, CAP, MOS
Data Analyst I
WV Offices of the Insurance Commissioner
Financial Conditions Division
PO Box 50540
Charleston, WV 25305-0540