BOOK V: Commercial paper and guarantees.

The sole trader is a natural person who carries on one or more independent professional activities in his own name. The assets, rights, obligations and securities which he holds and which are useful for his activity or his independent professional activities constitute the professional assets of the sole trader. Subject to Book VI of this Code, these assets may not be divided. The elements of the assets of the sole…

The derogation provided for in the fourth paragraph of Article L. 526-22 only applies to claims arising from the date of registration in the register to which the sole trader is subject for his business, where this is provided for. Where he is registered in more than one register, the derogation takes effect from the earliest date of registration. Where the date of registration is after the declared date of…

The right of lien of the tax authorities and social security bodies covers all the professional and personal assets of the sole trader in the event of fraudulent manoeuvres or serious and repeated failure to comply with his tax obligations, under the conditions set out in I and II of article L. 273 B of the Book of Tax Procedures, or serious and repeated failure to comply with the collection…

The sole trader may, at the written request of a creditor, waive the derogation provided for in the fourth paragraph of Article L. 526-22, for a specific undertaking for which he must state the term and the amount, which must be determined or determinable. This waiver must comply, on pain of nullity, with the forms prescribed by decree. This waiver may not take place before the expiry of a cooling-off…

This section is without prejudice to the powers granted to spouses to administer and dispose of their joint property.