A.__A special purpose reinsurance vehicle must have a distinct name, which must include the designation "SPRV" or "Special Purpose Reinsurance Vehicle."__The name of the reinsurance vehicle may not be deceptively similar to, or likely to be confused with or mistaken for, any other existing business name registered in this State.

B.__Unless otherwise provided in the plan of operation, the principal place of business and office of any reinsurance vehicle organized under this subchapter must be located in this State.

C.__The assets of a reinsurance vehicle must be preserved and administered by or on behalf of the reinsurance vehicle to satisfy the liabilities and obligations of the reinsurance vehicle incident to the insurance securitization and other related agreements including the contract.

D.__Assets of the reinsurance vehicle that are pledged to secure obligations of the reinsurance vehicle to a ceding insurer under a contract must be held in trust and administered by a qualified United States financial institution serving as trustee.__The qualified United States financial institution may not control, be controlled by or be under common control with the reinsurance vehicle or any ceding insurer.

E.__The agreement governing the trust described in paragraph D must create one or more trust accounts into which all pledged assets must be deposited and held until distributed in accordance with the trust agreement.__The pledged assets must be held by the trustee at the trustee's office in the United States and may be held in certificated or electronic form.