State Codes and Statutes
Statutes > Indiana > Title27 > Ar1 > Ch12.4
IC 27-1-12.4
Chapter 12.4. Charitable Gift Annuities
IC 27-1-12.4-1
"Internal Revenue Code" defined
Sec. 1. As used in this chapter, "Internal Revenue Code" means
the Internal Revenue Code of 1986, as amended and in effect on
January 1, 1994.
As added by P.L.131-1994, SEC.1.
IC 27-1-12.4-2
Annuities exempt from regulation
Sec. 2. An annuity is not subject to regulation by the department
under IC 27 if the annuity:
(1) is established under a transaction that, for federal income
tax purposes, is treated:
(A) in part as a charitable contribution under Section 170 of
the Internal Revenue Code; and
(B) in part as an investment in an annuity contract under
Section 72 of the Internal Revenue Code; and
(2) meets the requirements for exclusion from the definition of
"acquisition indebtedness" under Section 514(c)(5) of the
Internal Revenue Code.
As added by P.L.131-1994, SEC.1.
