Sec. 102.001.  DEFINITIONS.  In this chapter:
(1)  "Charitable gift annuity" means an annuity:
(A)  that is payable over the lives of one or two individuals;
(B)  that is made in return for the transfer of cash or other property to a charitable organization;  and
(C)  the actuarial value of which is less than the value of the cash or other property transferred, with the difference in those values being a charitable deduction for federal tax purposes.
(2)  "Charitable organization" means an entity described by:
(A)  Section 501(c)(3), Internal Revenue Code of 1986;  or
(B)  Section 170(c), Internal Revenue Code of 1986.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.