The entity shall submit to the NJ Insurance Department a certification from an officer stating the software being used and the person responsible for calculating the reserves and their qualifications. Board resolution is required. Annual filing is required. Charity's calendar year fund activity report due by April 30, and 120 days after close of fiscal year, if filing report for charity's fiscal year. Strict investment limitations.
Rules apply to reserves for all states.
Charity must be in continuous operation for 10 years before it can issue a gift annuity agreement. All Rights Reserved.