Qualified charitable-gift annuity: Effect of noncompliance; penalties.

NRS 688A.285 Qualified charitable-gift annuity: Effect of noncompliance; penalties. 1. Failure of a charitable organization to comply with the requirements of NRS 688A.283 or 688A.284 for disclosure or notice, or both, does not disqualify an annuity that otherwise constitutes a qualified charitable-gift annuity. 2. The Commissioner may demand, by certified mail with return receipt requested, that the organization comply with those requirements, and may impose a fine of not more than $1,000 for each charitable-gift annuity issued before compliance is complete. (Added to NRS by 1999, 1951) STANDARD NONFORFEITURE LAW: LIFE INSURANCE