New Hampshire Revised Statutes 403-E:2 – Qualified Charitable Gift Annuity is Not Insurance
Current as of: 2023 | Check for updates
|
Other versions
I. The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this state.
II. A charitable gift annuity issued before the effective date of this chapter shall be deemed to be a qualified charitable gift annuity for purposes of this chapter, and the issuance of that charitable gift annuity shall not constitute engaging in the business of insurance in this state, if the charitable organization issuing such annuity has given notice to the director pursuant to N.H. Rev. Stat. § 403-E:3, II(a).
II. A charitable gift annuity issued before the effective date of this chapter shall be deemed to be a qualified charitable gift annuity for purposes of this chapter, and the issuance of that charitable gift annuity shall not constitute engaging in the business of insurance in this state, if the charitable organization issuing such annuity has given notice to the director pursuant to N.H. Rev. Stat. § 403-E:3, II(a).
Terms Used In New Hampshire Revised Statutes 403-E:2
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4