Number: 97-597 Title: Secwrities/Antitrust Treatment of Charitable Gift Annuities: Richie v. American Council on Gift Annuities, Inc. Authors: Janice E. Rubin and Michael V. Seitzinger, American Law Division Abstract: A lawsuit challenged, on both securities and antitrust grounds, the right of charitable organizations to issue so-called charitable annuities. Federal and state legislation to protect the charities was enacted. However, the Fifth Circuit has recently declined to review a district court's refusal to dismiss the case. This report summarizes the theory of the lawsuit, the federal and state legislation which was enacted, and the recent decision by the Fifth Circuit. Pages: 5 Date: June 6, 1997