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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. A charity must be tax exempt under IRC Section 501(c)(3) and must have been in continuous operation for five years before issuing gift annuity agreements. In addition, the organization must either have been incorporated in Maine, or be qualified as a foreign corporation pursuant to Title 13-B, chapter 12, which entails a filing with the Secretary of State.
Notification/Contact with State Regulators: Notification is not required.
Disclosure Language Required: Disclosure language is not required.
While every effort is made to provide accurate data, neither any persons named in these pages nor the American Council on Gift Annuities guarantees the accuracy of the data presented here.
The user of this information is solely responsible for determining and verifying the accuracy of the data presented here and how it is used by the reader. This information is provided solely as a resource.
This information is supplied by:
State Regulations Committee
American Council on Gift Annuities
233 McCrea Street, Suite 400
Indianapolis, IN 46225
Phone: 317-269-6271
Fax: 317-269-6276
E-mail: acga@acga-web.org
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Copyright © 2000-2008. American Council on Gift Annuities. All Rights Reserved.
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