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Wisconsin's CGA Law

Important change to Wisconsin law regarding issuance of gift annuities, effective April 18, 2014, including removal of registration and on-going reporting requirements and addition of specific disclosure and notice requirements.  Click here for more info.

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Simmons Endowment Fund

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The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.

 

While every effort is made to provide accurate data, neither any persons named in these pages nor the American Council on Gift Annuities guarantees the accuracy of the data presented here.

The user of this information is solely responsible for determining and verifying the accuracy of the data presented here and how it is used by the reader. This information is provided solely as a resource.

This information is supplied by the ACGA State Regulations Committee.

Maine

Regulation of Charitable Gift Annuities

Degree of Regulation:

Charitable gift annuities issued by qualified organizations are not subject to regulation under Maine Insurance Code, under Title 24-A, Section 3 of the Maine Revised Statutes.

  • Organization exempt from federal income tax
  • Years of operation - five years (or be a successor to a qualifying organization such that the combined operating years of the two organizations is at least five years)
  • Incorporated in Maine or qualified foreign corporation
  • Registration w/ other state agency - foreign corporation must file with Secretary of State.

Actions Required for Exemption:

None

Disclosure and Agreement Content Requirements:

None

Reserve Requirements:

None

Annual Reporting:

None

Compliance/Enforcement:

None

Links to State Regulations Pages:

Maine Insurance Code Title 24-A, Sec. 3

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