688A.285 - Qualified charitable-gift annuity: Effect of noncompliance; penalties. - Nevada Statutes

688A.285  Qualified charitable-gift annuity: Effect of noncompliance; penalties.

      1.  Failure of a charitable organization to comply with the requirements of NRS 688A.283 or 688A.284 for disclosure or notice, or both, does not disqualify an annuity that otherwise constitutes a qualified charitable-gift annuity.

      2.  The Commissioner may demand, by certified mail with return receipt requested, that the organization comply with those requirements, and may impose a fine of not more than $1,000 for each charitable-gift annuity issued before compliance is complete.

      (Added to NRS by 1999, 1951)