2011 Missouri Revised Statutes
TITLE XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 352 Religious and Charitable Associations--Charitable Gift Annuities
Section 352.520. Department, duties--fines levied against qualified organizations for failure to comply.
Department, duties--fines levied against qualified organizations for failure to comply.
352.520. The department of insurance, financial institutions and professional registration may enforce performance of the requirements of sections 352.505 and 352.510 by sending a letter by certified mail, return receipt requested, demanding that the qualified organization comply with the requirements of sections 352.505 and 352.510. The department of insurance, financial institutions and professional registration may fine the qualified organization in an amount not to exceed one thousand dollars per qualified charitable gift annuity agreement issued until such time as the qualified organization complies with sections 352.505 and 352.510. However, the failure of a qualified organization to comply with the notice requirements imposed pursuant to section 352.505 or section 352.510 does not prevent a charitable gift annuity that otherwise meets the requirements of sections 352.500 to 352.520 from constituting a qualified charitable gift annuity.
(L. 1996 S.B. 768 5, A.L. 2001 H.B. 664)
Annotation Copyright Missouri Joint Committee on Legislative Research
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