Source: https://www.law.cornell.edu/uscode/text/15/37?quicktabs_8=1
Timestamp: 2016-02-10 13:57:21
Document Index: 260002957

Matched Legal Cases: ['§ 37', '§ 37', '§ 37', '§\u202f2', '§\u202f2', '§\u202f3', '§\u202f4', '§\u202f4']

15 U.S. Code § 37 - Immunity from antitrust laws | US Law | LII / Legal Information Institute
U.S. Code › Title 15 › Chapter 1 › § 37 15 U.S. Code § 37 - Immunity from antitrust laws
Immunity from antitrust laws
(a) Inapplicability of antitrust laws
Except as provided in subsection (d), the antitrust laws, and any State law similar to any of the antitrust laws, shall not apply to charitable gift annuities or charitable remainder trusts.
Except as provided in subsection (d), any person subjected to any legal proceeding for damages, injunction, penalties, or other relief of any kind under the antitrust laws, or any State law similar to any of the antitrust laws, on account of setting or agreeing to rates of return or other terms for, negotiating, issuing, participating in, implementing, or otherwise being involved in the planning, issuance, or payment of charitable gift annuities or charitable remainder trusts shall have immunity from suit under the antitrust laws, including the right not to bear the cost, burden, and risk of discovery and trial, for the conduct set forth in this subsection.
(c) Treatment of certain annuities and trustsAny annuity treated as a charitable gift annuity, or any trust treated as a charitable remainder trust, either—
in any filing by the donor with the Internal Revenue Service; or
in any schedule, form, or written document provided by or on behalf of the donee to the donor;
shall be conclusively presumed for the purposes of this section and section 37a of this title to be respectively a charitable gift annuity or a charitable remainder trust, unless there has been a final determination by the Internal Revenue Service that, for fraud or otherwise, the donor’s annuity or trust did not qualify respectively as a charitable gift annuity or charitable remainder trust when created.
Subsections (a) and (b) shall not apply with respect to the enforcement of a State law similar to any of the antitrust laws, with respect to charitable gift annuities, or charitable remainder trusts, created after the State enacts a statute, not later than December 8, 1998, that expressly provides that subsections (a) and (b) shall not apply with respect to such charitable gift annuities and such charitable remainder trusts.
(Pub. L. 104–63, § 2, Dec. 8, 1995, 109 Stat. 687; Pub. L. 105–26, § 2(1), July 3, 1997, 111 Stat. 241.)
For definition of “antitrust laws”, referred to in text, see section 37a(1) of this title.
1997—Pub. L. 105–26 amended section generally. Prior to amendment, section related to modification of antitrust laws to allow two or more charitable organizations to use, or to agree to use, the same annuity rate in issuing one or more charitable gift annuities and to limitations on such conduct.
Pub. L. 105–26, § 3, July 3, 1997, 111 Stat. 242, provided that: “This Act [see Short Title of 1997 Amendments note set out under section 1 of this title], and the amendments made by this Act, shall apply with respect to all conduct occurring before, on, or after the date of the enactment of this Act [July 3, 1997] and shall apply in all administrative and judicial actions pending on or commenced after the date of the enactment of this Act.”
Pub. L. 104–63, § 4, Dec. 8, 1995, 109 Stat. 688, provided that: “This Act [enacting this section, section 37a of this title, and provisions set out as a note under section 1 of this title] shall apply with respect to conduct occurring before, on, or after the date of the enactment of this Act [Dec. 8, 1995].”
Pub. L. 105–26, § 4, July 3, 1997, 111 Stat. 242, provided that:
The Attorney General shall carry out a study to determine the effect of this Act [see Short Title of 1997 Amendments note set out under section 1 of this title] on markets for noncharitable annuities, charitable gift annuities, and charitable remainder trusts. The Attorney General shall prepare a report summarizing the results of the study.
“(b)Details of Study and Report.—
The report referred to in subsection (a) shall include any information on possible inappropriate activity resulting from this Act and any recommendations for legislative changes, including recommendations for additional enforcement resources.
“(c)Submission of Report.—
The Attorney General shall submit the report referred to in subsection (a) to the Chairman and the ranking member of the Committee on the Judiciary of the House of Representatives, and to the Chairman and the ranking member of the Committee on the Judiciary of the Senate, not later than 27 months after the date of the enactment of this Act [July 3, 1997].”