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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)
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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