Notice To Donor

Sec. 102.101. NOTICE TO DONOR. (a) A charitable organization that issues a qualified charitable gift annuity shall give to the donor, at the time an agreement for a qualified charitable gift annuity is entered into, written notice that the annuity is not: (1) insurance under the laws of this state; (2) subject to regulation by the department; and (3) protected by a guaranty association affiliated with the department. (b) The notice must be in a separate paragraph of the annuity agreement in a print size at least as large as the print size generally used in the agreement. Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.