Charitable Gift Annuity Certificate of Exemption holders are required to submit annual reports to the Office of the Insurance Commissioner (OIC). One component of those reports is an audited financial statement. Depending on the makeup of the organization, some of the audited reports are consolidated, combining multiple companies into one financial statement, while others are specific to only one entity. Currently, WAC 284-38-200 phrasing provides a timeline only to filers of consolidated audited statements. It does not mention those that are filing as a single entity. This was not the intent as originally drafted, and, therefore, the OIC seeks to amend WAC 284-38-200 to provide a uniform timeline for submission of audited financial statements by entities authorized to issue charitable gifts.
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