N.D. Cent. Code § 26.1-34.1-01 Application for certificate of exemption to issue gift annuities
26.1-34.1-01. Application for certificate of exemption to issue gift annuities
A domestic or foreign corporation organized and operated exclusively as, or for the purpose
of aiding, an educational, religious, charitable, scientific, or philanthropic institution and which is
organized as a nonprofit organization without profit to any person, may apply to the
commissioner for a certificate of exemption to receive gifts of money or other property
conditioned upon, or in return for, its agreement to pay an annuity to a donor or nominee or
both. The corporation shall include with its application any documents or information the
commissioner reasonably requires, including:
1. Its name, location, and organization;
2. Evidence that it possesses a current tax-exempt status under the laws of the United
States;
3. A designation form appointing the commissioner as its attorney upon whom may be
served all lawful process in any action, suit, or proceeding instituted by or on behalf of
an annuitant or beneficiary arising out of any annuity contract;
4. A statement of the financial condition, management, and affairs of the organization,
including an accurate and complete financial statement consisting of a balance sheet
and income and expense statement, showing the current financial condition of the
corporation and sworn to by the officer of the corporation having the responsibility for
preparing such statement; and
5. A filing fee of one hundred dollars coincident with its application.