Maine § 24-A §703-A Charitable gift annuity agreement

Maine Statutes

§ 24-A §703-A — Charitable gift annuity agreement

Maine § 24-A §703-A

Title 24-AMAINE INSURANCE CODE

Ch. 9KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE

This text of Maine § 24-A §703-A (Charitable gift annuity agreement) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §703-A (2026).

Text

1.Charitable gift annuity agreement defined. For the purposes of this Title, a "charitable gift annuity agreement" is a written contract in which a qualified organization receives money or other property conditioned upon the organization's agreement to pay an annuity to one or more individuals; as long as, with respect to the organization, the annuity meets the requirements for exclusion from the definition of "acquisition indebtedness" under the Internal Revenue Code, Section 514(c)(5) or a successor provision.

2.Qualified organization defined. For the purposes of this Title, a "qualified organization" is an organization that is privately and specially established as an instrumentality of the State for a nonprofit purpose or an organization that meets the following requirements.

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Charitable gift annuity agreement defined.
For the purposes of this Title, a "charitable gift annuity agreement" is a written contract in which a qualified organization receives money or other property conditioned upon the organization's agreement to pay an annuity to one or more individuals; as long as, with respect to the organization, the annuity meets the requirements for exclusion from the definition of "acquisition indebtedness" under the Internal Revenue Code, Section 514(c)(5) or a successor provision.
2.
Qualified organization defined.
For the purposes of this Title, a "qualified organization" is an organization that is privately and specially established as an instrumentality of the State for a nonprofit purpose or an organization that meets the following requirements.