New Hampshire Revised Statutes 403-E:4 – Failure to Comply
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Terms Used In New Hampshire Revised Statutes 403-E:4
- 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.
The failure of a charitable organization to comply with the requirements imposed under N.H. Rev. Stat. § 403-E:3 of this chapter shall not prevent a charitable gift annuity that otherwise meets the requirements of this chapter from constituting a qualified charitable gift annuity. The director shall enforce performance of N.H. Rev. Stat. § 403-E:3 by sending a letter by certified mail, return receipt requested, demanding that the charitable organization comply with the requirements of N.H. Rev. Stat. § 403-E:3. The director may fine the charitable organization in an amount not to exceed $1,000 per qualified charitable gift annuity agreement issued until such time as the charitable organization complies with N.H. Rev. Stat. § 403-E:3.