Securing the tied assets

(1) The tied assets must be secured in such a way that they can be disposed of only with the trustee's consent.
(2) In particular, the trustee must keep the holdings of the tied assets under joint custody with the insurance undertaking. The trustee may release an asset of the tied assets only where the remaining assets are sufficient to cover the minimum amount of the tied assets under section 125(2), or the insurance undertaking simultaneously provides alternative cover for the tied assets. Where the insurance undertaking is obliged to surrender a document, the trustee must consent to the surrender even where the conditions named in the second sentence are not met; section 127(1) applies correspondingly. Where the insurance undertaking needs a document for temporary use, the trustee must release it, without the insurance undertaking being obliged to provide alternative cover.
(3) The trustee may consent to a disposal only in writing; where an item is to be deleted from the asset register, it suffices for the trustee to write his or her name next to or beneath the deletion note.
(4) The trustee may at any time inspect the electronic and written records of the insurance undertaking, insofar as they relate to the tied assets.