Nevada Revised Statutes 688A.284 – Qualified charitable-gift annuity: Required notice to Commissioner; contents of notice; further information
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1. A charitable organization that issues qualified charitable-gift annuities shall notify the Commissioner in writing on or before December 30, 1999, or the expiration of 90 days after it first enters into an agreement to issue a qualified charitable-gift annuity, whichever is later. The notice must:
Terms Used In Nevada Revised Statutes 688A.284
- 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.
(a) Be signed by an officer or director of the organization;
(b) Identify the organization; and
(c) Certify that the organization is a charitable organization and that the annuities are qualified charitable-gift annuities.
2. Unless the Commissioner demands information to determine the amount of a penalty pursuant to NRS 688A.285, the organization need submit no other information.