The following material shall be submitted by an organization applying for a special permit to issue charitable gift annuities:
- A. Proof of exemption under §501 of the Internal Revenue Code;
- B. Description of the organization's activities and number of years of active operation in this State;
- C. Copy of the most recent independently audited financial statement;
- D. Payout rates proposed to be provided under the charitable immediate and deferred gift annuity agreements;
- E. Description of the proposed investment of contributed funds;
- F. Copy of the organization's bylaws;
- G. Copy of the statement required by Regulation .05A of this chapter;
- H. Copy of the organization's forms used as charitable gift annuity contracts;
- I. Copies of any solicitation material or descriptive literature proposed to be used with charitable gift annuities; and
- J. Other material requested by the Commissioner in order to determine that the applicant is an organization which is eligible for the special permit in accordance with Insurance Article, §16-114(b), Annotated Code of Maryland.
Authority: Insurance Article, §§2-109 and 16-114, Annotated Code of Maryland
Effective date: August 14, 1995 (22:16 Md. R. 1221)
Chapter recodified from COMAR 09.31.03 to COMAR 31.09.07 effective September 7, 1998 (25:18 Md. R. 1439)
Regulation .02B amended effective April 6, 2020 (47:7 Md. R. 385)
Regulation .03C amended effective November 7, 2016 (43:22 Md. R. 1223)
Regulation .03D amended effective April 6, 2020 (47:7 Md. R. 385)
Regulation .04B amended effective December 19, 2016 (43:25 Md. R. 1386)