Sections 59-1801 to 59-1803 shall be known and may be cited as the Charitable Gift Annuity Act.
For purposes of the Charitable Gift Annuity Act:
(1) Charitable gift annuity means a charitable gift annuity described by section 501(m)(5) and section 514(c)(5) of the Internal Revenue Code that is issued prior to, on, or after March 26, 1996, by a charitable organization that, on the date of the annuity agreement, has been in continuous operation for at least three years or is the successor or affiliate of a charitable organization that has been in continuous operation for at least three years; and
(2) Charitable organization means any entity described in section 170(c) or section 501(c)(3) of the Internal Revenue Code.
Issuance of a charitable gift annuity does not constitute:
(1) Engaging in business as a trust company subject to the Nebraska Trust Company Act;
(2) Engaging in the business of insurance subject to Chapter 44;
(3) Engaging in an act in violation of sections 59-801 to 59-831;
(4) Engaging in an act in violation of the Viatical Settlements Act; or
(5) Engaging in an act in violation of the Uniform Deceptive Trade Practices Act. Conduct other than issuance of a charitable gift annuity, including the marketing of a charitable gift annuity, is not exempt from application of the Uniform Deceptive Trade Practices Act pursuant to this subdivision.