MICHIGAN
Regulation of Charitable Gift Annuities
This page updated on April 15, 2005.

Degree of Regulation: Michigan code does not address exemption of charitable gift annuities from insurance regulation. However, the Michigan Attorney General stated in a 1988 opinion (No. 6538) that a gift annuity program proposed by the Michigan State University Foundation was not subject to regulation under the Insurance Code. In addition, the Attorney General stated that regulation would not be imposed unless issuance of annuities became the chief purpose of the foundation. The office of the Commissioner of Insurance views the opinion as applying to any legitimate charity.

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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