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.

F.__The provisions for withdrawal by ceding insurers of funds from the trust must be clean and unconditional, subject only to the following requirements:

(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;

(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need be presented in order to withdraw assets, except that the ceding insurer may be required to acknowledge receipt of withdrawn assets;

(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;

(4)__The trust agreement described in paragraph E may not contain references to any other agreements or documents; and