(2)__The investment strategy of the special purpose reinsurance vehicle and a representation that the investment strategy complies with the investment requirements set forth in this subchapter and that the strategy includes investment practices or other provisions to preserve asset values that facilitate attainment of full funding during the term of the insurance securitization with assets that can be monetized in response to a triggering event without a substantial loss in value;

(3)__A description of the method by which losses covered by the contract that may develop after the termination of the contract period are to be addressed under the provisions of the contract; and

(4)__A representation that the trust agreement under section 784, subsection 2, paragraph E and the trusts holding assets that secure the obligations of the special purpose reinsurance vehicle under the contract and the contract with the ceding insurers in connection with the contemplated insurance securitization are structured in accordance with the requirements under this subchapter.

3.__Additional information.__The superintendent shall notify the special purpose reinsurance vehicle organizer if any additional information is needed in order to review the application and shall approve or deny the application within 60 days after determining that the application is complete.

A.__The superintendent shall approve the application and issue a limited certificate of authority under this section if the superintendent finds that:

(1)__The proposed plan of operation provides a reasonable expectation of a successful operation;

(2)__The terms of the contract and related transactions comply with this subchapter and any applicable rules adopted by the superintendent;

(3)__The proposed plan of operation is not hazardous to any ceding insurer or to policyholders; and