102.101 – NOTICE TO DONOR. (a) A charitable organization
Texas Insurance Code § 102.101
Summary
This law requires charitable organizations to inform donors that qualified charitable gift annuities are not considered insurance and are not regulated by state insurance laws. It ensures that donors are aware of the lack of regulatory protections associated with these annuities.
Charitable organizations must notify donors about annuity status.
Annuities are not regulated as insurance in Texas.
Donors lack protections from guaranty associations.
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In simple terms: Learn about Texas's NOTICE TO DONOR. (a) A charitable organization 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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