NOTE: 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.
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.