79-11-659 - Effect of failure to provide required notice.
§ 79-11-659. Effect of failure to provide required notice.
The failure of a charitable organization to comply with the notice requirements imposed under Section 79-11-655 or 79-11-657 does not prevent a charitable gift annuity that otherwise meets the requirements of 79-11-651 through 79-11-661 from constituting a qualified charitable gift annuity. The Secretary of State may enforce performance of the requirements of Sections 79-11-655 and 79-11-657 by sending a letter by certified mail, return receipt requested, demanding that the charitable organization comply with the requirements of Sections 79-11-655 and 79-11-657. The Secretary of State may fine the charitable organization in an amount not to exceed One Thousand Dollars ($1,000.00) per qualified charitable gift annuity agreement issued until such time as the charitable organization complies with Sections 79-11-655 and 79-11-657.
Sources: Laws, 2001, ch. 332, § 5, eff from and after July 1, 2001.