### Question
Can you define what annuity rate means?


### Answer
**Annuity rate** is defined as the following in *15 U.S.C. § 37a*:

> the percentage of the fair market value of a gift (determined as of the date of the gift) given in exchange for a charitable gift annuity, that represents the amount of the annual payment to be made to 1 or 2 annuitants over the life of either or both under the terms of the agreement to give such gift in exchange for such annuity

#### Citation:
  - *15 U.S.C. § 37a*
  - Heading: **CHAPTER 1-MONOPOLIES AND COMBINATIONS IN RESTRAINT OF TRADE**

