Texas § 102.001 DEFINITIONS.

Texas Statutes

§ 102.001 — DEFINITIONS.

Texas § 102.001

Code INInsurance Code

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Tex. Insurance Code Code Ann. § 102.001 (2026).

Text

Sec. 102.001. DEFINITIONS. In this chapter:

(1)"Charitable gift annuity" means an annuity:

(A)that is payable over the lives of one or two individuals;

(B)that is made in return for the transfer of cash or other property to a charitable organization; and

(C)the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.

(2)"Charitable organization" means an entity described by:

(A)Section 501(c)(3), Internal Revenue Code of 1986; or

(B)Section 170(c), Internal Revenue Code of 1986.

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Sec. 102.001. DEFINITIONS. In this chapter:
(1) "Charitable gift annuity" means an annuity:
(A) that is payable over the lives of one or two individuals;
(B) that is made in return for the transfer of cash or other property to a charitable organization; and
(C) the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.
(2) "Charitable organization" means an entity described by:
(A) Section 501(c)(3), Internal Revenue Code of 1986; or
(B) Section 170(c), Internal Revenue Code of 1986.