2018 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.

Universal Citation: MO Rev Stat § 352.520 (2018)

Effective 28 Aug 2001

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 352

352.520. Department, duties — fines levied against qualified organizations for failure to comply. — 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)

Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.