Charitable Gift Annuities Exemption Model Act

What this document is

Charitable Gift Annuities Exemption Model Act is a naic model law published by National Association of Insurance Commissioners (NAIC). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Charitable Gift Annuities Exemption Model Act (#241), Section 4A

  “A. A charitable organization that issues qualified charitable gift annuities shall notify the commissioner in writing by the later of ninety (90) days after the effective date of this Act or the date on which it enters into the organization’s first qualified charitable gift annuity agreement.”

• Charitable Gift Annuities Exemption Model Act (#241), Section 4B

  “B. The organization shall not be required to submit additional information except to determine appropriate penalties that may be applicable under Section 5 of this Act.”

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