(1) This chapter applies to charitable gift annuities issued by charitable organizations as defined in § 56-52-102 and shall be known and may be cited as the “Tennessee Charitable Gift Annuity Act of 2008.”
(2) The issuance of a charitable gift annuity by a charitable organization authorized under this chapter does not constitute engaging in the business of insurance in this state except to the extent otherwise provided in this chapter.
(3) All annuities, including those issued by charitable organizations, that do not meet the requirements of this chapter shall be subject to regulation as annuities under all applicable chapters of this title, except for private annuities issued by a member of a transferor's immediate family.