Illinois Code § 121-2.10
Illinois Code § 121-2.10. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 121-2.10.
Exempt charitable gift annuities. The insurance laws of this State, including this Code, do not apply to any charitable gift annuity, as defined in Section 501(m)(5) of the Internal Revenue Code, issued by an organization that is described in Section 170(c) of the Internal Revenue Code, if either (i) an insurer authorized to transact business in this State is directly obligated to the annuitant or (ii) the organization has been in active operation for not less than 20 years before the date the annuity is issued and has an unrestricted fund balance of not less than $2,000,000 on the date the annuity is issued. For purposes of this Section, "Internal Revenue Code" refers to the Internal Revenue Code of 1986, as amended, and corresponding provisions of subsequent federal tax laws. (Source: P.A. 89-124, eff. 7-7-95; 89-485, eff. 6-21-96.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 121-2.10
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
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Common questions
What is the source of Illinois Compiled Statutes § 121-2.10?
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What subject does Illinois Compiled Statutes § 121-2.10 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
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