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State Regulations

Why Donor State and Governing Law State May Differ in CGA Agreements

Gift planners are often surprised to see that the state named in the Governing Law paragraph in an annuity agreement is not always the same as the donor’s state of legal residence. Here’s why these states sometimes differ:

Wisconsin Relaxes its Gift Annuity Regulations

On April 17, 2013 Governor Scott Walker signed into Wisconsin law new and much less stringent regulations regarding gift annuities (2013 Wisconsin Act 271). The new regulations became effective the next day.

Prior to the change in law, Wisconsin was a highly regulated state when it came to gift annuities. Requirements included:

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