2022 Indiana Code
Title 27. Insurance
Article 1. Department of Insurance
Chapter 12.4. Charitable Gift Annuities
27-1-12.4-2. Annuities Exempt From Regulation

Universal Citation:
IN Code § 27-1-12.4-2 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Sec. 2. An annuity is not subject to regulation by the department under IC 27 if the annuity:

(1) is established under a transaction that, for federal income tax purposes, is treated:

(A) in part as a charitable contribution under Section 170 of the Internal Revenue Code; and

(B) in part as an investment in an annuity contract under Section 72 of the Internal Revenue Code; and

(2) meets the requirements for exclusion from the definition of "acquisition indebtedness" under Section 514(c)(5) of the Internal Revenue Code.

As added by P.L.131-1994, SEC.1.

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