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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.

New Jersey

Degree of Regulation

Issuance of charitable gift annuities is regulated under New Jersey State Statutes Annotated Section 17B:17-13.1.

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 ten years
  • obtain a permit from the Department of Banking and Insurance
  • maintain gift annuity reserves, invested in accordance with the prudent investor standard
  • submit an annual filing to the state
  • adopt a board resolution referencing applicable state statutory provisions
  • be registered for charitable solicitation with the New Jersey Department of Law and Public Safety and to do business in the state with the New Jersey Division of Revenue (unless exempt from such registrations)

 

Links to State Regulations Pages

New Jersey Insurance Department Contact Information

June A. Duggan
Department of Banking & Insurance
Office of Solvency Regulation
8th Floor
20 West State Street
P.O. Box 325
Trenton, NJ 08625-0325
phone: 609-292-5350 ext. 50326
e-mail: June.Duggan@dobi.nj.gov