Tex. Insurance Code § 102.001
This is the official text of Tex. Insurance Code § 102.001, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 102.001. DEFINITIONS.
Official statutory text
In this chapter:
(1) "Charitable gift annuity" means an annuity:
(A) that is payable over the lives of one or two individuals;
(B) that is made in return for the transfer of cash or other property to a charitable organization; and
(C) the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.
(2) "Charitable organization" means an entity described by:
(A) Section 501(c)(3), Internal Revenue Code of 1986; or
(B) Section 170(c), Internal Revenue Code of 1986.
(1) "Charitable gift annuity" means an annuity:
(A) that is payable over the lives of one or two individuals;
(B) that is made in return for the transfer of cash or other property to a charitable organization; and
(C) the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.
(2) "Charitable organization" means an entity described by:
(A) Section 501(c)(3), Internal Revenue Code of 1986; or
(B) Section 170(c), Internal Revenue Code of 1986.
Status: in_force · Read it on the official government site
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