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F.__The provisions for withdrawal by ceding insurers of funds | | from the trust must be clean and unconditional, subject only | | to the following requirements: |
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| | | (1)__The ceding insurer has the right to withdraw | | assets from the trust account at any time without | | notice to the reinsurance vehicle subject only to | | written notice to the trustee from the ceding insurer | | that funds in the amount requested are due and payable | | by the reinsurance vehicle; |
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| | | (2)__No other statement or document need be presented | | in order to withdraw assets, except that the ceding | | insurer may be required to acknowledge receipt of | | withdrawn assets; |
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| | | (3)__The trust agreement described in paragraph E must | | indicate that it is not subject to any conditions or | | qualifications outside of the trust agreement; |
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| | | (4)__The trust agreement described in paragraph E may | | not contain references to any other agreements or | | documents; and |
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| | | (5)__Reference may not be made to the fact that these | | funds may represent reinsurance premiums or that the | | funds have been deposited for any specific purpose. |
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| | | G.__The trust agreement described in paragraph E must be | | established for the sole use and benefit of the ceding | | insurer at least to the full extent of the reinsurance | | vehicle's obligations to the ceding insurer under the | | contract.__In the case of more than one ceding insurer, a | | separate trust agreement must be entered into with each | | ceding insurer and a separate trust account must be | | maintained for each ceding insurer. |
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| | | H.__The trust agreement described in paragraph E must | | provide for the trustee to: |
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| | | (1)__Receive assets and hold all assets in a safe | | place; |
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| | | (2)__Determine that all assets are in a form that the | | ceding insurer or the trustee, upon direction by the | | ceding insurer, may whenever necessary negotiate the | | assets, without consent or signature from the | | reinsurance vehicle or any other person or entity; |
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