7. An application for the constitution of a federation of mutual insurance associations must be accompanied by the following documents, in addition to the articles of the federation and the documents required by section 93.121 of the Act respecting insurance (chapter A-32):
(1) the résumés of the persons proposed as directors;
(2) the proposed internal by-law;
(3) a description of the composition and mode of operation of the audit committee and, if applicable, the executive committee, the investment committee, the committee on ethics and any other proposed committee, as well as the names of the persons proposed as members of those committees;
(4) the proposed rules of ethics applicable to directors;
(5) the name and address of the person proposed as auditor;
(6) a certified true copy of the resolution of the board of directors of each of the mutual insurance associations, duly confirmed by the members, authorizing the founders to apply for the constitution of the federation; and
(7) a development plan describing the proposed activities of the federation over a period of 5 years, specifying the nature of the services that it will offer to its members, the means to be used to establish and maintain its services, including an estimate of costs, the training it will provide to its personnel and, if applicable, its investment policy for the investment fund.