Sec. 102.002.  QUALIFIED CHARITABLE GIFT ANNUITY.  A charitable gift annuity is a qualified charitable gift annuity for purposes of this chapter if it was issued before September 1, 1995, or if it is:
(1)  described by Section 501(m)(5), Internal Revenue Code of 1986;  and
(2)  issued by a charitable organization that on the date of the annuity agreement:
(A)  has, exclusive of the assets funding the annuity agreement, a minimum of $100,000 in unrestricted cash, cash equivalents, or publicly traded securities;  and
(B)  has been in continuous operation for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least three years.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.