§ 4072. Definitions
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 4072
§ 4072. Definitions
As used in this act:1
1. “Charitable gift annuity” means a transfer of cash or other property by a donor or donors to a charitable organization in return for periodic payments by the charitable organization commencing on the date of the agreement or in the future to one or more persons designated by the donor or donors over the lives of such persons;
a. has an actuarial value using the actuarial factors and interest rate established by the Internal Revenue Code to determine charitable deductions for federal tax purposes which is less than ninety percent (90%) of the value of the cash or other property transferred by the donor or donors to the charitable organization and the difference in value constitutes a charitable deduction for federal tax purposes,
Credits
Laws 1998, c. 141, § 2, emerg. eff. April 21, 1998.
Footnotes
Title 36, § 4071 et seq.
36 Okl. St. Ann. § 4072, OK ST T. 36 § 4072
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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