Maine Charitable Gift Annuity Registration

Not required

Charitable Gift Annuity licensure is not required on the State level in Maine.

No filing is required, but charities need to meet certain conditions before issuing charitable gift annuities. Maine exempts charities from following insurance regulations regarding charitable gift annuities if the following conditions are met: "A. The organization is a nonprofit organization that is either: (1) An organization to which the Maine Nonprofit Corporation Act applies; or (2) Organized under the laws of a jurisdiction within the United States and qualified as a foreign corporation pursuant to Title 13-B, chapter 12. B. The organization qualifies as a tax-exempt organization under the Internal Revenue Code, Section 501(c)(3) or a successor provision. C. The organization: (1) Has been operating continuously for 5 or more years; (2) Is a parent or subsidiary of a qualified organization; or (3) Is the successor to an organization that meets the requirements of paragraphs A and B and both organizations together have operated continuously for 5 or more years.".