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Article L312-1-4 of the French Monetary and Financial Code

The person entitled to provide for the funeral of the deceased may obtain, on presentation of the funeral invoice, the debit from the deceased’s payment accounts, within the limit of the credit balance of these accounts, of the sums required to pay all or part of the funeral expenses, from the banks holding the said accounts, within the limit of an amount set by order of the minister responsible for…

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Article L312-1-5 of the French Monetary and Financial Code

Customers who are natural persons and not acting for professional purposes are informed free of charge, by means of their monthly account statement, of the amount and name of any bank charges relating to irregularities and incidents that the institution intends to debit from their deposit account. This debit is made at least fourteen days after the date on which the account statement is closed. The conditions for application of…

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Article L312-1-6 of the French Monetary and Financial Code

The management of a deposit account for natural persons acting for professional purposes is governed by a written agreement on paper or on another durable medium, between the customer and his credit institution. The main stipulations that this account agreement must include, in particular the procedures for access to mediation, are specified by an order of the Minister for the Economy.

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Article L312-1-7 of the French Monetary and Financial Code

I. – There is no charge for closing any deposit or passbook account. II. – Credit institutions shall make documentation relating to banking mobility available to their customers, free of charge and unconditionally, on paper or on another durable medium, at their premises and in electronic form on their website. III. – The receiving institution, which opens the new deposit account as part of the change of direct debit, offers…

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Article L312-2 of the French Monetary and Financial Code

Funds that a person collects from a third party, in particular in the form of deposits, with the right to dispose of them on their own account but with the obligation to return them, are deemed to be funds repayable by the public. A decree of the Conseil d’Etat specifies the conditions and limits under which issues of debt securities may be treated as collections of repayable funds from the…

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Article L312-4 of the French Monetary and Financial Code

I. – Credit institutions, investment firms and finance companies mentioned in II of article L. 511-1, authorised in France, as well as financial holding companies and mixed financial holding companies with their registered office in France, and market undertakings authorised to provide the investment services mentioned in 8 and 9 of article L. 321-1, shall join the deposit guarantee and resolution fund. II. – The task of the deposit guarantee…

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Article L312-4-1 of the French Monetary and Financial Code

I. – Credit institutions authorised in France adhere to the deposit guarantee and resolution fund under the deposit guarantee mechanism. The deposit guarantee covers, up to a maximum limit, funds held in an account with a credit institution and denominated in euros or in the currency of another State, under the following conditions : 1° These funds must be returned by the credit institution to the holder in accordance with…

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Article L312-5 of the French Monetary and Financial Code

I. – The deposit guarantee scheme shall be implemented at the request of the Autorité de contrôle prudentiel et de résolution as soon as the latter ascertains that a credit institution is no longer in a position to return, immediately or in the near future, the funds referred to in I of Article L. 312-4-1. The intervention of the Fonds de Garantie des Dépôts et de Résolution (Deposit Guarantee Fund)…

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Article L312-6 of the French Monetary and Financial Code

The fonds de garantie des dépôts et de résolution is subrogated to the rights of the beneficiaries of its intervention to the extent of the sums it has paid. The fonds de garantie des dépôts et de résolution may bring any liability action against the de jure or de facto managers of the institutions for which it intervenes in order to obtain reimbursement of all or part of the sums…

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