Sec. 102.101. NOTICE TO DONOR

Latest version.

(a) A charitable organization that issues a qualified charitable gift annuity shall give to the donor, at the time an agreement for a qualified charitable gift annuity is entered into, written notice that the annuity is not:
(1) insurance under the laws of this state;
(2) subject to regulation by the department; and
(3) protected by a guaranty association affiliated with the department.
(b) The notice must be in a separate paragraph of the annuity agreement in a print size at least as large as the print size generally used in the agreement.

Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.

                    
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