Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 09 - LIFE INSURANCE AND ANNUITIES
Chapter 31.09.07 - Charitable Gift Annuities
Section 31.09.07.06 - Filing Requirements for Special Permits
Current through Register Vol. 51, No. 19, September 20, 2024
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.
