Degree of Regulation
Issuance of charitable gift annuities is regulated under Nevada Revised Statutes, Sections 688A.281 through 688A.285.
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 the successor or affiliate of an organization in operation for that period of time)
- have at least $300,000 in unrestricted cash, cash equivalents or publicly traded securities, not counting the assets transferred for the annuity gift
- provide notice to the Division of Insurance
- not pay compensation that is contingent upon the issuance of the annuity or based upon the value of the annuity, other than a payment for reinsurance to an insurer licensed to issue insurance in Nevada (the definition of a qualified gift annuity specifically excludes an annuity for which a commission is paid)
Links to State Regulations Pages
** As of February 26, 2016, filings are only being accepted via email.