Gift planners are often surprised to see that the state named in the Governing Law paragraph in an annuity agreement is not always the same as the donor’s state of legal residence. Here’s why these states sometimes differ:
On April 17, 2013 Governor Scott Walker signed into Wisconsin law new and much less stringent regulations regarding gift annuities (2013 Wisconsin Act 271). The new regulations became effective the next day. Prior to the change in law, Wisconsin was a highly regulated state when it came to gift annuities. Requirements included:
PG Calc presents an excerpt from its white paper, State Gift Annuity Registration: A Primer on What It Means to Your Organization. If you have thoughts on this paper or recommendations for a white paper topic, please send them to firstname.lastname@example.org.
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