Pennsylvania Charitable Gift Annuity Exemption act

As you may be aware, the Pennsylvania General Assembly recently passed the Charitable Gift Annuity Exemption Act (the Act), which exempts the issuance of qualified charitable gift annuities by qualified charities from the Pennsylvania insurance regulation laws.
The Pennsylvania insurance regulation laws generally govern the solicitation and negotiation of any contracts of insurance, including annuities, within Pennsylvania, whether or not the soliciting charity is based in Pennsylvania. The Act went into effect on December 15, and applies to all gift annuities issued on or after that date.

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