(2)__The quoted market price for the asset in active markets must be used if available; and

(3)__If quoted market prices are not available, a value determined using the best information available considering values of like assets and other valuation methods, such as present value of future cash flows, historical value of the same or similar assets or comparison to values of other asset classes the value of which have been historically related to the subject asset.

7.__Fully funded.__"Fully funded" means, with respect to a special purpose reinsurance vehicle contract, that the fair value of the assets held in trust by or on behalf of the special purpose reinsurance vehicle under the special purpose reinsurance vehicle contract on the date on which the special purpose reinsurance vehicle contract is effected, equals or exceeds the aggregate limit as defined in this subchapter.

8.__Indemnity trigger.__"Indemnity trigger" means a transaction term by which the special purpose reinsurance vehicle's obligation to pay the ceding insurer for losses covered by a special purpose reinsurance vehicle contract is triggered by the ceding insurer incurring a specified level of losses.

9.__Insolvency.__"Insolvency" or "insolvent" means that the special purpose reinsurance vehicle is unable to pay its obligations when they are due unless the obligations are the subject of a bona fide dispute.

10.__Nonindemnity trigger.__"Nonindemnity trigger" means a transaction term by which the special purpose reinsurance vehicle's obligation to pay the ceding insurer under a special purpose reinsurance vehicle contract arises from the occurrence or existence of some event or condition other than the ceding insurer incurring a specified level of losses under its insurance or reinsurance contracts.

11.__Permitted investments.__"Permitted investments" means those investments that meet the qualifications under section 795.

12.__Qualified United States financial institution.__ "Qualified United States financial institution" means for purposes of meeting the requirements of a trustee as specified in