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Indiana Code Title 27. Insurance § 27-1-12.4-2

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 2. An annuity is not subject to regulation by the department under IC 27 if the annuity:

(1) is established under a transaction that, for federal income tax purposes, is treated:

(A) in part as a charitable contribution under Section 170 of the Internal Revenue Code 1;  and

(B) in part as an investment in an annuity contract under Section 72 of the Internal Revenue Code 2;  and

(2) meets the requirements for exclusion from the definition of “acquisition indebtedness” under Section 514(c)(5) of the Internal Revenue Code 3.

1  26 U.S.C.A. § 170
2  26 U.S.C.A. § 72
3  26 U.S.C.A. § 514(c)(5)
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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-12.4-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-12-4-2/

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