MAINE
Regulation of Charitable Gift Annuities
Last Revised on October 2, 2009.
Degree of Regulation:
Charitable gift annuities issued by qualified organizations are not subject to regulation under Maine Insurance Code, under Title 24-A, Section 3 of the Maine Revised Statutes.
- Organization exempt from federal income tax
- Years of operation - five years (or be a successor to a qualifying organization such that the combined operating years of the two organizations is at least five years)
- Incorporated in Maine or qualified foreign corporation
- Registration w/ other state agency - foreign corporation must file with Secretary of State.
Actions Required for Exemption:
None
Disclosure and Agreement Content Requirements:
None
Reserve Requirements:
None
Annual Reporting:
None
Compliance/Enforcement:
None
Links to State Regulations Pages:
State Statute Link
