79-11-653 - Charitable gift annuity is not insurance.
§ 79-11-653. Charitable gift annuity is not insurance.
(1) The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this state.
(2) A charitable gift annuity issued before July 1, 2001, is a qualified charitable gift annuity for purposes of Sections 79-11-651 through 79-11-661, and the issuance of that charitable gift annuity does not constitute engaging in the business of insurance in this state.
Sources: Laws, 2001, ch. 332, § 2, eff from and after July 1, 2001.