Missouri Laws 352.510 – Notice to donors, disclosure, required
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Terms Used In Missouri Laws 352.510
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
When entering into an agreement for a qualified charitable gift annuity, the qualified organization shall promptly disclose to the donor in writing in the annuity agreement that a qualified charitable gift annuity is not insurance under the laws of this state and is not subject to regulation by the department of commerce and insurance or protected by a guaranty association. The notice provisions required by this section must be in a separate paragraph in a print size no smaller than that employed in the annuity agreement generally.