{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-106.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-106.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-106.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-106.1.html"}],"law_id":73424,"edition_id":1,"section_id":73424,"structure_id":13746,"section_number":"38.2-106.1","catch_line":"Charitable gift annuities","history":"1996, c. 425.","full_text":"For purposes of this title:\n\t\t“Charitable gift annuity” means an agreement by a charitable organization to make periodic payments in fixed dollar amounts payable over one or two lives, under which the actuarial value of the annuity, as determined for federal tax purposes, is less than the value of the cash or other property transferred by the donor in return therefor and the difference in value constitutes a charitable contribution for federal tax purposes.\n\t\t“Charitable organization” means an entity described in:\n\n1\n\n§ 501(c) (3) of the Internal Revenue Code of 1986 (26 U.S.C. § 501(c) (3)); or2\n\n§ 170 (c) of the Internal Revenue Code of 1986 (26 U.S.C. § 170 (c)).\n\t\t\t“Qualified charitable gift annuity” means a charitable gift annuity that conforms to the requirements of § 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 501 (m) (5)) and § 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 514 (c) (5)) and that is issued by a charitable organization that on the date of the annuity agreement:1\n\nHas a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets contributed by the donor in return for the annuity agreement; and2\n\nHas been in continuous operation as a charitable organization for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation as such for at least three years.","order_by":null,"text":{"0":{"id":264224,"text":"For purposes of this title:\n\t\t“Charitable gift annuity” means an agreement by a charitable organization to make periodic payments in fixed dollar amounts payable over one or two lives, under which the actuarial value of the annuity, as determined for federal tax purposes, is less than the value of the cash or other property transferred by the donor in return therefor and the difference in value constitutes a charitable contribution for federal tax purposes.\n\t\t“Charitable organization” means an entity described in:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":264225,"text":"§ 501(c) (3) of the Internal Revenue Code of 1986 (26 U.S.C. § 501(c) (3)); or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":264226,"text":"§ 170 (c) of the Internal Revenue Code of 1986 (26 U.S.C. § 170 (c)).\n\t\t\t“Qualified charitable gift annuity” means a charitable gift annuity that conforms to the requirements of § 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 501 (m) (5)) and § 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 514 (c) (5)) and that is issued by a charitable organization that on the date of the annuity agreement:","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"1"},"3":{"id":264227,"text":"Has a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets contributed by the donor in return for the annuity agreement; and","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"2","next_prefix":"2"},"4":{"id":264228,"text":"Has been in continuous operation as a charitable organization for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation as such for at least three years.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":13746,"edition_id":1,"name":"Insurance Classified and Defined","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13745,"metadata":{},"date_created":"2026-06-26 03:45:45","date_modified":"2026-06-26 03:45:45","permalink":{"id":210675,"object_type":"structure","relational_id":13746,"identifier":"2","token":"38.2\/1\/2","url":"\/38.2\/1\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13745,"edition_id":1,"name":"General Provisions","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:45:45","date_modified":"2026-06-26 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This law was first created in 1996. The record of its establishment is cataloged in chapter 425<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":87220,"section_number":"38.2-106","catch_line":"Annuities","order_by":null,"url":"\/38.2-106\/"}],"refers_to":false,"permalink":{"id":210705,"object_type":"law","relational_id":73424,"identifier":"38.2-106.1","token":"38.2\/1\/2\/38.2-106.1","url":"\/38.2-106.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-106.1\/","token":"38.2\/1\/2\/38.2-106.1","dublin_core":{"Title":"Charitable gift annuities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-106.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

For purposes of this title:\n\t\t“Charitable gift annuity<\/span>” means an agreement by a charitable organization<\/span> to make periodic payments in fixed dollar amounts payable over one or two lives, under which the actuarial value of the annuity, as determined for federal tax purposes, is less than the value of the cash or other property transferred by the donor in return therefor and the difference in value constitutes a charitable contribution for federal tax purposes.\n\t\t“Charitable organization<\/span>” means an entity described in:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> § 501(c) (3) of the Internal Revenue Code of 1986 (26 U.S.C. § 501(c) (3)); or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> § 170 (c) of the Internal Revenue Code of 1986 (26 U.S.C. § 170 (c)).\n\t\t\t“Qualified charitable gift annuity<\/span><\/span>” means a charitable gift annuity<\/span> that conforms to the requirements of § 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 501 (m) (5)) and § 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. § 514 (c) (5)) and that is issued by a charitable organization<\/span> that on the date of the annuity agreement: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Has a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets<\/span> contributed by the donor in return for the annuity agreement; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Has been in continuous operation as a charitable organization<\/span> for at least three years or is a successor or affiliate of a charitable organization<\/span> that has been in continuous operation as such for at least three years. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCHARITABLE GIFT ANNUITIES (\u00a7 38.2-106.1)\n\nFor purposes of this title:\n\t\t“Charitable gift annuity” means an agreement by a charitable\norganization to make periodic payments in fixed dollar amounts payable over one\nor two lives, under which the actuarial value of the annuity, as determined for\nfederal tax purposes, is less than the value of the cash or other property\ntransferred by the donor in return therefor and the difference in value\nconstitutes a charitable contribution for federal tax purposes.\n\t\t“Charitable organization” means an entity described in:\n\n1. § 501(c) (3) of the Internal Revenue Code of 1986 (26 U.S.C. §\n501(c) (3)); or\n\n2. § 170 (c) of the Internal Revenue Code of 1986 (26 U.S.C. § 170\n(c)).\n\t\t\t“Qualified charitable gift annuity” means a charitable gift\nannuity that conforms to the requirements of § 501 (m) (5) of the Internal\nRevenue Code of 1986 (26 U.S.C. § 501 (m) (5)) and § 514 (c) (5) of\nthe Internal Revenue Code of 1986 (26 U.S.C. § 514 (c) (5)) and that is\nissued by a charitable organization that on the date of the annuity agreement:\n\n1. Has a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly\ntraded securities, exclusive of the assets contributed by the donor in return\nfor the annuity agreement; and\n\n2. Has been in continuous operation as a charitable organization for at least\nthree years or is a successor or affiliate of a charitable organization that has\nbeen in continuous operation as such for at least three years.\n\nHISTORY: 1996, c. 425.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}