{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4072","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4072","heading":"Definitions","body":"As used in this act:\n\n1. \"Charitable gift annuity\" means a transfer of cash or other\n\nproperty by a donor or donors to a charitable organization in return\n\nfor periodic payments by the charitable organization commencing on\n\nthe date of the agreement or in the future to one or more persons\n\ndesignated by the donor or donors over the lives of such persons;\n\n2. \"Qualified charitable gift annuity\" means a charitable gift\n\nannuity which:\n\na. has an actuarial value using the actuarial factors and\n\ninterest rate established by the Internal Revenue Code\n\nto determine charitable deductions for federal tax\n\npurposes which is less than ninety percent (90%) of\n\nthe value of the cash or other property transferred by\n\nthe donor or donors to the charitable organization and\n\nthe difference in value constitutes a charitable\n\ndeduction for federal tax purposes,\n\nb. has periodic payments that are calculated using a rate\n\nwhich will reasonably assure the promised payments to\n\nthe annuitant on the date the annuity is issued, and\n\nc. is described in Section 501(m)(5) of the Internal\n\nRevenue Code;\n\n3. \"Charitable organization\" means an entity that:\n\na. is described by Sections 501(c)(3) and 170(c) of the\n\nInternal Revenue Code, and\n\nb. is qualified to do business in this state;\n\n4. \"Qualified charitable organization\" means a charitable\n\norganization that, on the date it issues its first qualified\n\ncharitable gift annuity contract:\n\na. has a minimum of One Hundred Thousand Dollars\n\n($100,000.00) in unrestricted assets that are\n\nexclusive of the assets comprising its qualified\n\ncharitable gift annuities, and\n\nb. has been in continuous operation for at least three\n\n(3) years or is a successor or affiliate of a\n\ncharitable organization that has been in continuous\n\noperation for at least three (3) years; and\n\n5. \"Internal Revenue Code\" means the Internal Revenue Code of\n\n1986 (26 U.S.C.), as amended, or any similar successor federal tax\n\nlegislation.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"879eafa416ed76513d891547c4bd3dd247cd6214977c5883f09d8e40b7136aea","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4071","next":"us-ok/okla.-stat.-tit.-36-36-4073"},"notice":"GroundRules: Original legal text. Not legal advice."}