LD 1553
pg. 6
Page 5 of 25 PUBLIC Law Chapter 249 Page 7 of 25
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LR 1915
Item 1

 
application for a limited certificate of authority with the
superintendent and pay the application fee specified in section
601, subsection 1.__A complete application must include the
following:

 
A.__An affidavit verifying that each prospective organizer
meets the requirements of this subchapter;

 
B.__A representation that the prospective organizer intends
to form a special purpose reinsurance vehicle that operates
in accordance with the requirements under this subchapter;

 
C.__The proposed name of the special purpose reinsurance
vehicle;

 
D.__Biographical affidavits of all organizers setting forth
their legal names, any names under which they have conducted
or are conducting their affairs and any names of any person
affiliated, as defined in section 222, with any organizer,
together with such other biographical information as the
superintendent may request;

 
E.__The source and form of the minimum capital to be
contributed to the special purpose reinsurance vehicle;

 
F.__Any persons with which the special purpose reinsurance
vehicle is or upon formation will be affiliated as defined
in section 222;

 
G.__The names and biographical affidavits of the proposed
members of the board of directors and principal officers of
the special purpose reinsurance vehicle pursuant to section
790, setting forth their legal names, any names under which
they have conducted or are conducting their affairs and any
names of any person affiliated, as defined in section 222,
with any proposed director or officer, together with such
other biographical information as the superintendent may
request;

 
H.__A plan of operation, consisting of a description of the
contemplated insurance securitization, the special purpose
reinsurance vehicle contract and related transactions, which
must include:

 
(1)__Draft documentation or at the discretion of the
superintendent a written summary of all material agreements that
are planned in order to effectuate the insurance securitization
and the related contract, including the names of the ceding
insurers, the nature of the risks being assumed and the maximum
amounts,


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