Texas Insurance Code

§ 102.101 — NOTICE TO DONOR

IN § 102.101Title 2. TEXAS DEPARTMENT OF INSURANCE · Part B. DISCIPLINE AND ENFORCEMENT · Ch. 102. CHARITABLE GIFT ANNUITIES · Art. C. NOTICE

Statute text

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(a)A charitable organization that issues a qualified charitable gift annuity shall give to the donor, at the time an agreement for a qualified charitable gift annuity is entered into, written notice that the annuity is not:

(1)insurance under the laws of this state;

(2)subject to regulation by the department; and

(3)protected by a guaranty association affiliated with the department.

(b)The notice must be in a separate paragraph of the annuity agreement in a print size at least as large as the print size generally used in the agreement.

Legislative history

Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.