Under 46 CFR §28.880, a hydraulically operated crane is considered 'fail-safe' when which of the following conditions is met?

1. A. The crane automatically returns to its stowed position whenever hydraulic pressure drops below 50 percent of operating pressure.
2. ✓ A component failure results in a slow and controlled release of the load so as not to endanger personnel.Correct
3. C. The crane is equipped with a mechanical holding device that locks the load in place upon loss of pressure.
4. D. The hydraulic circuit is fitted with a check valve that maintains pressure in the actuator for at least 30 minutes after pump shutdown.