§36-4074. Notification to Insurance Commissioner.
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/ok/title-36-insurance/36-4074·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
On or before ninety
(90)days after the later of the effective date of this act or the date on which it issues its first charitable gift annuity contract, the charitable organization shall notify the Insurance Commissioner in writing that it has issued one or more charitable gift annuities. This notice shall be signed by an officer or director of the charitable organization and shall:
a. show the name and principal address of the charitable
organization,
b. certify that the organization is an organization
described by Section 501(c)(3) of the Internal Revenue
Code and Section 170(c) of the Internal Revenue Code,
c. have attached a copy of the organization's letter from
the Internal Revenue Service declaring its exempt
status,
d.
certify that the charitable organization has issued
one or more charitable gift annuity contracts and that
these charitable gift annuity contracts are qualified
charitable gift annuity contracts as defined in this
act,
e. certify that the charitable organization has a minimum
of One Hundred Thousand Dollars ($100,000.00) in
unrestricted assets exclusive of the assets comprising
the qualified charitable gift annuities issued by the
charitable organization,
f. certify that the charitable organization has been in
continuous operation for at least three
(3)years or
is a successor or an affiliate of a charitable
organization that has been in continuous operation for
at least three
(3)years, and
g. have attached the most recent annual audit of the
charitable organization prepared by an independent
certified public accountant or accounting firm or
individual holding a permit to practice public
accounting in accordance with generally accepted
accounting principles. Added by Laws 1998, c. 141, § 4, emerg. eff. April 21, 1998. Amended by Laws 1998, c. 406, § 2, eff. July 1, 1998.