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GiftLaw Pro Home   >  Chapter 8 - Gift Administration  >  8.1 Gift Annuities  >  8.1.2 State Registration Compliance  >  Basic Quiz

Basic Quiz - 8.1.2 State Registration Compliance

1. All states require charities to file an annual report showing the charity's gift annuity activity.
           
2. States requiring charities to report on gift annuity activity all use the same form for reporting.
           
3. Every state has the same deadline for filing the report of the charity's gift annuity activity.
           
4. States never impose filing fees with the required annual reports.
           
5. In a notification state, the charity must meet statutory requirements and then notify the appropriate state agency of the charity's issuance of gift annuities in that state.
           
6. In notification states, the state agency that is typically notified is the Department of Consumer Affairs.
           
7. Most states that require an annual report also want the charity to submit audited financial statements.
           
8. In silent states, the state law expressly provides that charities are not subject to insurance regulation.
           
9. Conditional exemption states do not imposed filing fees to issue gift annuities.
           
10. If donor resides in State A, annuitant resides in State A and charity is incorporated in State B, the law of State A applies.