United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 24-A, § 703: "Annuity" defined, 1969

This section defines “annuity” for the Title and excludes charitable gift annuity agreements from insurance.

annuitiesdefinitions

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“This section defines “annuity” for the Title and excludes charitable gift annuity agreements from insurance.”

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    Enacted 1969 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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"Annuity" defined

This section defines “annuity” for the Title and excludes charitable gift annuity agreements from insurance.

Section 703

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Source record from legislature.maine.gov · Enacted 1969 · Source version 1 Oct 2025

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§ 703"Annuity" definedProvision

This section defines “annuity” for the Title and excludes charitable gift annuity agreements from insurance.

For the purposes of this Title, an "annuity" is a contract under which obligations are assumed with respect to periodic payments for a specific term or terms or where the making or continuance of all or of some of the payments, or the amount of a payment, is dependent upon the continuance of human life, except payments made pursuant to optional modes of settlement under the authority of section 702. A contract that includes extra benefits of the kinds defined in sections 702 and 704 is deemed to be an annuity, if the extra benefits constitute a subsidiary or incidental part of the entire contract. A charitable gift annuity agreement, as defined in section 703‑A, is not insurance. [PL 1995, c. 375, Pt. C, §2 (AMD).]
Section 703Verify source

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  • 1 Oct 2025 · currentEnglish

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