Texas Insurance Code - Section 102.001. Definitions
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§ 102.001. DEFINITIONS. 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.
Added by Acts 1999, 76th Leg., ch. 101, § 1, eff. Sept. 1, 1999.
Section: 101.301 101.351 101.352 101.353 101.354 101.355 101.356 102.001 102.002 102.051 102.101 102.102 102.103 102.104 102.151
Last modified: August 11, 2007
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