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Article L225-244 of the French Commercial code

The conversion decision is taken on the report of the company’s statutory auditors, if any. The report certifies that the shareholders’ equity is at least equal to the share capital.

The conversion is subject, where applicable, to the approval of the bondholders’ meetings and the meeting of holders of profit shares or founder’s shares.

The conversion decision is subject to publicity, the terms of which are set by decree in the Conseil d’Etat.

Original in French 🇫🇷
Article L225-244

La décision de transformation est prise sur le rapport des commissaires aux comptes de la société, s’il en existe. Le rapport atteste que les capitaux propres sont au moins égaux au capital social.

La transformation est soumise, le cas échéant, à l’approbation des assemblées d’obligataires et de l’assemblée des porteurs de parts bénéficiaires ou de parts de fondateur.

La décision de transformation est soumise à publicité, dont les modalités sont fixées par décret en Conseil d’Etat.

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