Tex. Ins. Code § 102.002 · Subchapter A. GENERAL PROVISIONS
QUALIFIED CHARITABLE GIFT ANNUITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A charitable gift annuity is a qualified charitable gift annuity for purposes of this chapter if it was issued before September 1, 1995, or if it is:
(1) described by Section 501(m)(5), Internal Revenue Code of 1986; and
(2) issued by a charitable organization that on the date of the annuity agreement:
(A) has, exclusive of the assets funding the annuity agreement, a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities; and
(B) has been in continuous operation for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least three years.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.102.htm
- Text hash
- sha256 e23034895a173352e9a461a8d59349e7275a47790d856ec4a35868d91cf43cea
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 102.002. Each shows the citation as that text prints it.
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