102.051 – NOT INSURANCE; EFFECT OF CERTAIN LAWS. The
Texas Insurance Code § 102.051
Summary
This law clarifies that issuing a qualified charitable gift annuity is not considered insurance in Texas. It protects issuers from certain legal violations and claims of unconscionable actions under specific business laws.
Qualified charitable gift annuities are not classified as insurance.
Issuers are exempt from specific Business & Commerce Code violations.
No unconscionable action claims for issuing these annuities.
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In simple terms: Learn about Texas's NOT INSURANCE; EFFECT OF CERTAIN LAWS. The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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