{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3113.2.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3113.2.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3113.2.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3113.2.html"}],"law_id":69792,"edition_id":1,"section_id":69792,"structure_id":13293,"section_number":"38.2-3113.2","catch_line":"Qualified charitable gift annuities; issuance not business of insurance; disclosures to donors; unfair trade practices provisions not applicable","history":"1996, c. 425.","full_text":"A\n\nThe issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this Commonwealth. A charitable gift annuity issued before the effective date of this section is a qualified charitable gift annuity for purposes of this title if it meets the requirements of &#xA7; 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 501 (m) (5)) and &#xA7; 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 514 (c) (5)), and the issuance of that charitable gift annuity does not constitute engaging in the business of insurance in this Commonwealth.B\n\nWhen entering into an agreement for a qualified charitable gift annuity, the charitable organization shall disclose to the donor in writing in the annuity agreement that a qualified charitable gift annuity is not insurance under the laws of this Commonwealth and is neither subject to regulation by the Commission nor protected by the Virginia Life, Accident and Sickness Insurance Guaranty Association. The notice provisions required by this subsection shall be in a separate paragraph in a print size no smaller than that employed in the annuity agreement generally.C\n\nThe solicitation or issuance of a qualified charitable gift annuity does not constitute a violation of the unfair trade practices provisions of Chapter 5 (&#xA7; 38.2-500 et seq.) of this title.","order_by":null,"text":{"0":{"id":252223,"text":"The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this Commonwealth. A charitable gift annuity issued before the effective date of this section is a qualified charitable gift annuity for purposes of this title if it meets the requirements of &#xA7; 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 501 (m) (5)) and &#xA7; 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 514 (c) (5)), and the issuance of that charitable gift annuity does not constitute engaging in the business of insurance in this Commonwealth.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":252224,"text":"When entering into an agreement for a qualified charitable gift annuity, the charitable organization shall disclose to the donor in writing in the annuity agreement that a qualified charitable gift annuity is not insurance under the laws of this Commonwealth and is neither subject to regulation by the Commission nor protected by the Virginia Life, Accident and Sickness Insurance Guaranty Association. The notice provisions required by this subsection shall be in a separate paragraph in a print size no smaller than that employed in the annuity agreement generally.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":252225,"text":"The solicitation or issuance of a qualified charitable gift annuity does not constitute a violation of the unfair trade practices provisions of Chapter 5 (&#xA7; 38.2-500 et seq.) of this title.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13293,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":13292,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":214333,"object_type":"structure","relational_id":13293,"identifier":"1","token":"38.2\/31\/1","url":"\/38.2\/31\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13292,"edition_id":1,"name":"Life Insurance","identifier":"31","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:35","date_modified":"2026-06-26 03:44:35","permalink":{"id":214331,"object_type":"structure","relational_id":13292,"identifier":"31","token":"38.2\/31","url":"\/38.2\/31\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79264,"structure_id":13293,"section_number":"38.2-3100","catch_line":"Scope of chapter","url":"\/38.2-3100\/","token":"38.2\/31\/1\/38.2-3100","metadata":false},{"id":59125,"structure_id":13293,"section_number":"38.2-3100.1","catch_line":"Forms of insurance authorized","url":"\/38.2-3100.1\/","token":"38.2\/31\/1\/38.2-3100.1","metadata":false},{"id":62806,"structure_id":13293,"section_number":"38.2-3100.2","catch_line":"Funding agreements","url":"\/38.2-3100.2\/","token":"38.2\/31\/1\/38.2-3100.2","metadata":false},{"id":73524,"structure_id":13293,"section_number":"38.2-3100.3","catch_line":"Requirements of life insurance or annuity contracts used to fund preneed funeral contracts","url":"\/38.2-3100.3\/","token":"38.2\/31\/1\/38.2-3100.3","metadata":false},{"id":81650,"structure_id":13293,"section_number":"38.2-3101","catch_line":"Legal reserve insurers","url":"\/38.2-3101\/","token":"38.2\/31\/1\/38.2-3101","metadata":false},{"id":86718,"structure_id":13293,"section_number":"38.2-3102","catch_line":"Domestic insurers prohibited from insuring lives and persons of residents of \"reciprocal states.\"","url":"\/38.2-3102\/","token":"38.2\/31\/1\/38.2-3102","metadata":false},{"id":79156,"structure_id":13293,"section_number":"38.2-3103","catch_line":"Fraudulent procurement of policy; penalty","url":"\/38.2-3103\/","token":"38.2\/31\/1\/38.2-3103","metadata":false},{"id":67546,"structure_id":13293,"section_number":"38.2-3104","catch_line":"No policy to be issued purporting to take effect more than six months before application made; conversion permitted","url":"\/38.2-3104\/","token":"38.2\/31\/1\/38.2-3104","metadata":false},{"id":62631,"structure_id":13293,"section_number":"38.2-3105","catch_line":"What contracts with respect to life insurance may be made by minors","url":"\/38.2-3105\/","token":"38.2\/31\/1\/38.2-3105","metadata":false},{"id":79143,"structure_id":13293,"section_number":"38.2-3106","catch_line":"Suicide and execution not grounds of defense; exception","url":"\/38.2-3106\/","token":"38.2\/31\/1\/38.2-3106","metadata":false},{"id":58805,"structure_id":13293,"section_number":"38.2-3107","catch_line":"Incontestability of certain policies","url":"\/38.2-3107\/","token":"38.2\/31\/1\/38.2-3107","metadata":false},{"id":54784,"structure_id":13293,"section_number":"38.2-3108","catch_line":"Misstatement of age","url":"\/38.2-3108\/","token":"38.2\/31\/1\/38.2-3108","metadata":false},{"id":58169,"structure_id":13293,"section_number":"38.2-3109","catch_line":"Contestability of reinstated policy","url":"\/38.2-3109\/","token":"38.2\/31\/1\/38.2-3109","metadata":false},{"id":85290,"structure_id":13293,"section_number":"38.2-3110","catch_line":"Incontestability not applicable to excluded or restricted coverage","url":"\/38.2-3110\/","token":"38.2\/31\/1\/38.2-3110","metadata":false},{"id":86363,"structure_id":13293,"section_number":"38.2-3111","catch_line":"Assignment of life insurance policies","url":"\/38.2-3111\/","token":"38.2\/31\/1\/38.2-3111","metadata":false},{"id":63114,"structure_id":13293,"section_number":"38.2-3111.1","catch_line":"Annuity contract purchased to fund retirement benefits; transfer subject to Commission approval","url":"\/38.2-3111.1\/","token":"38.2\/31\/1\/38.2-3111.1","metadata":false},{"id":70263,"structure_id":13293,"section_number":"38.2-3112","catch_line":"Designation of testamentary trustee as beneficiary","url":"\/38.2-3112\/","token":"38.2\/31\/1\/38.2-3112","metadata":false},{"id":57329,"structure_id":13293,"section_number":"38.2-3113","catch_line":"Variable life insurance and variable annuities; separate accounts to be established; authority to issue; reports; special voting rights and procedures for owners","url":"\/38.2-3113\/","token":"38.2\/31\/1\/38.2-3113","metadata":false},{"id":72467,"structure_id":13293,"section_number":"38.2-3113.1","catch_line":"Modified guaranteed life insurance and modified guaranteed annuities; separate accounts; authority to issue; statements required; regulations to be issued; approval expenses","url":"\/38.2-3113.1\/","token":"38.2\/31\/1\/38.2-3113.1","metadata":false},{"id":69792,"structure_id":13293,"section_number":"38.2-3113.2","catch_line":"Qualified charitable gift annuities; issuance not business of insurance; disclosures to donors; unfair trade practices provisions not applicable","url":"\/38.2-3113.2\/","token":"38.2\/31\/1\/38.2-3113.2","metadata":false},{"id":65667,"structure_id":13293,"section_number":"38.2-3113.3","catch_line":"Educational loan provisions in life insurance policies","url":"\/38.2-3113.3\/","token":"38.2\/31\/1\/38.2-3113.3","metadata":false},{"id":85330,"structure_id":13293,"section_number":"38.2-3114","catch_line":"Statements required in variable life insurance and variable annuity contracts and certificates issued pursuant to group variable life insurance and group variable annuity contracts","url":"\/38.2-3114\/","token":"38.2\/31\/1\/38.2-3114","metadata":false},{"id":77467,"structure_id":13293,"section_number":"38.2-3115","catch_line":"Interest on life insurance and annuity contract proceeds","url":"\/38.2-3115\/","token":"38.2\/31\/1\/38.2-3115","metadata":false},{"id":72867,"structure_id":13293,"section_number":"38.2-3115.1","catch_line":"Accelerated payment of benefits","url":"\/38.2-3115.1\/","token":"38.2\/31\/1\/38.2-3115.1","metadata":false},{"id":86306,"structure_id":13293,"section_number":"38.2-3116","catch_line":"Commission to establish standards for simplified and readable life insurance and annuity policies","url":"\/38.2-3116\/","token":"38.2\/31\/1\/38.2-3116","metadata":false},{"id":54283,"structure_id":13293,"section_number":"38.2-3117","catch_line":"Standards for certain policies; prohibited policies","url":"\/38.2-3117\/","token":"38.2\/31\/1\/38.2-3117","metadata":false},{"id":83030,"structure_id":13293,"section_number":"38.2-3117.01","catch_line":"Provision of life insurance information upon notification of insured's death","url":"\/38.2-3117.01\/","token":"38.2\/31\/1\/38.2-3117.01","metadata":false}],"previous_section":{"id":72467,"structure_id":13293,"section_number":"38.2-3113.1","catch_line":"Modified guaranteed life insurance and modified guaranteed annuities; separate accounts; authority to issue; statements required; regulations to be issued; approval expenses","url":"\/38.2-3113.1\/","token":"38.2\/31\/1\/38.2-3113.1","metadata":false},"next_section":{"id":65667,"structure_id":13293,"section_number":"38.2-3113.3","catch_line":"Educational loan provisions in life insurance policies","url":"\/38.2-3113.3\/","token":"38.2\/31\/1\/38.2-3113.3","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3113.2\/","history_text":"<p>This law was first created in 1996. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?961+ful+CHAP0425\">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":false,"refers_to":[{"id":66905,"section_number":"38.2-500","catch_line":"Declaration of purpose","order_by":null,"url":"\/38.2-500\/"}],"permalink":{"id":214411,"object_type":"law","relational_id":69792,"identifier":"38.2-3113.2","token":"38.2\/31\/1\/38.2-3113.2","url":"\/38.2-3113.2\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3113.2\/","token":"38.2\/31\/1\/38.2-3113.2","dublin_core":{"Title":"Qualified charitable gift annuities; issuance not business of insurance; disclosures to donors; unfair trade practices provisions not applicable","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3113.2","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> The issuance of a <span class=\"dictionary\">qualified <span class=\"dictionary\">charitable gift annuity<\/span><\/span> does not constitute engaging in the business of <span class=\"dictionary\">insurance<\/span> in this Commonwealth. A <span class=\"dictionary\">charitable gift annuity<\/span> issued before the effective date of this section is a <span class=\"dictionary\">qualified <span class=\"dictionary\">charitable gift annuity<\/span><\/span> for purposes of this title if it meets the requirements of &#xA7; 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 501 (m) (5)) and &#xA7; 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 514 (c) (5)), and the issuance of that <span class=\"dictionary\">charitable gift annuity<\/span> does not constitute engaging in the business of <span class=\"dictionary\">insurance<\/span> in this Commonwealth. <a id=\"paragraph-252223\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-3113.2\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> When entering into an agreement for a <span class=\"dictionary\">qualified <span class=\"dictionary\">charitable gift annuity<\/span><\/span>, the <span class=\"dictionary\">charitable organization<\/span> shall disclose to the donor in writing in the annuity agreement that a <span class=\"dictionary\">qualified <span class=\"dictionary\">charitable gift annuity<\/span><\/span> is not <span class=\"dictionary\">insurance<\/span> under the <span class=\"dictionary\">laws<\/span> of this Commonwealth and is neither subject to regulation by the <span class=\"dictionary\">Commission<\/span> nor protected by the Virginia Life, Accident and Sickness <span class=\"dictionary\">Insurance<\/span> Guaranty Association. The notice provisions required by this subsection shall be in a separate paragraph in a print size no smaller than that employed in the annuity agreement generally. <a id=\"paragraph-252224\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-3113.2\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> The solicitation or issuance of a <span class=\"dictionary\">qualified <span class=\"dictionary\">charitable gift annuity<\/span><\/span> does not constitute a violation of the unfair trade practices provisions of Chapter 5 (&#xA7; <a class=\"law\" title=\"Declaration of purpose\" href=\"\/38.2-500\/\">38.2-500<\/a> et seq.) of this title. <a id=\"paragraph-252225\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/38.2-3113.2\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nQUALIFIED CHARITABLE GIFT ANNUITIES; ISSUANCE NOT BUSINESS OF INSURANCE;\nDISCLOSURES TO DONORS; UNFAIR TRADE PRACTICES PROVISIONS NOT APPLICABLE (\u00a7\n38.2-3113.2)\n\nA. The issuance of a qualified charitable gift annuity does not constitute\nengaging in the business of insurance in this Commonwealth. A charitable gift\nannuity issued before the effective date of this section is a qualified\ncharitable gift annuity for purposes of this title if it meets the requirements\nof &#xA7; 501 (m) (5) of the Internal Revenue Code of 1986 (26 U.S.C. &#xA7; 501\n(m) (5)) and &#xA7; 514 (c) (5) of the Internal Revenue Code of 1986 (26 U.S.C.\n&#xA7; 514 (c) (5)), and the issuance of that charitable gift annuity does not\nconstitute engaging in the business of insurance in this Commonwealth.\n\nB. When entering into an agreement for a qualified charitable gift annuity, the\ncharitable organization shall disclose to the donor in writing in the annuity\nagreement that a qualified charitable gift annuity is not insurance under the\nlaws of this Commonwealth and is neither subject to regulation by the Commission\nnor protected by the Virginia Life, Accident and Sickness Insurance Guaranty\nAssociation. The notice provisions required by this subsection shall be in a\nseparate paragraph in a print size no smaller than that employed in the annuity\nagreement generally.\n\nC. The solicitation or issuance of a qualified charitable gift annuity does not\nconstitute a violation of the unfair trade practices provisions of Chapter 5\n(&#xA7; 38.2-500 et seq.) of this title.\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}}