Book V: Service providers

The capital of the caisses de crédit agricole mutuel may not be formed by share subscriptions. It must be formed by member-policyholders by means of shares. These shares are in registered form. They are negotiable, but their transfer is subject to the approval of the caisse’s Board of Directors. The caisses de crédit agricole mutuel can only be formed after a quarter of the share capital has been paid in.

If the fund has variable capital, the capital may not be reduced below the amount of the foundation capital by the withdrawal of the contributions of the outgoing members.

The capital of mutual agricultural credit cooperatives that have called on the financial assistance of the central body of agricultural credit may not be reduced without the express authorisation of this body below the figure it reached when the last advance was granted.

In principle, members of the caisses de crédit agricole mutuel may only be released from their commitments to the caisses de crédit agricole mutuel after liquidation of the operations in progress at the time of their withdrawal. In all cases, their liability ceases five years after the date of their withdrawal. Under no circumstances are legal entities governed by public law liable for more than the shares subscribed.

The caisses de crédit agricole mutuel have a lien on the shares forming the share capital for all the obligations of their members towards them.

The duration of the caisses de crédit agricole mutuel is unlimited.

Caisses de crédit agricole mutuel may not carry out any transactions until they have filed with the clerk of the judicial court of their principal place of business, in accordance with the conditions laid down by decree of the Conseil d’Etat, the articles of association and a complete list of the directors or managers and members indicating their name, profession, domicile and the amount of their subscription. The caisse is…

The caisses de crédit agricole mutuel are not required to be registered in the Trade and Companies Register.

The Articles of Association determine the registered office, territorial scope and mode of administration of the Caisses de Crédit Agricole Mutuel. They determine the nature and scope of their operations, the rules to be followed for amending the Articles of Association, the dissolution of the company, the composition of the capital, the proportion in which each member may contribute to the constitution of this capital and the conditions under which…

The caisses locales de crédit agricole mutuel may grant loans to their members.