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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 York

Degree of Regulation

Issuance of charitable gift annuities is regulated under New York State Insurance Law Section 1110

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 Insurance Department
  • 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

Links to State Regulations Pages

Additional Information

  • ACGA Collaborates with New York Insurance Department to Reach Compromise on New Reserve Requirements for Charities That Issue Gift Annuities in New York - Click Here
  • Further clarification on calculating required assets in the case of a charity that applies for a certificate of exemption rather than a permit in New York - Click Here

New York Insurance Department Contact Information

George Brady
New York State Department of Financial Services
Life Bureau
One State Street
New York, NY  10004
Phone: (212) 480-4911