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 the ACGA State Regulations Committee.
Regulation of Charitable Gift Annuities
Degree of Regulation:
Michigan Code does not address exemption of charitable gift annuities from insurance regulation. However, Attorney General Opinion (Opinion No. 6538) held 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.
Actions Required for Exemption:
Disclosure and Agreement Content Requirements:
Links to State Regulations Pages: