BOOK V: ECONOMIC PROVISIONS

On pain of nullity, the deliberations of the board of directors or supervisory board and general meetings of local semi-public companies are communicated within one month of their adoption to the representative of the State in the department where the company’s registered office is located. This communication may be made electronically or by any other means that can be shown to be of a certain date. Articles L. 235-2 to…

If the State representative considers that a decision taken by the board of directors, the supervisory board or the general meetings of a local semi-public company is likely to seriously increase the financial burden on one or more of the local authorities or their groupings that are shareholders, or the risk incurred by the local authority or authorities or their groupings that have given their guarantee to a loan contracted…

When a local semi-public company exercises public authority prerogatives on behalf of a local authority or grouping, it draws up a special report each year on the conditions under which they were exercised, which is presented to the deliberative body of the local authority or grouping and is sent to the State representative in the department.

The provisions of article L. 2335-2 are not applicable in the event of financial difficulties arising, for a municipality, from its shareholding in the capital of a local semi-public company or from the guarantee it has granted for loans contracted by such a company when the shareholding was acquired or the guarantees granted after 8 July 1983, the date of publication of the loi n° 83-597 du 7 juillet 1983…

Each shareholding local authority or group of local authorities is entitled to at least one representative on the Board of Directors or Supervisory Board, appointed from among its members by the relevant deliberative assembly. In a proportion no greater than that of the capital held by all the shareholding local authorities or their groupings in relation to the company’s capital, the Articles of Association set the number of seats they…

Unless otherwise stipulated in their articles of association, semi-public local companies are represented at the meeting of members or shareholders of their subsidiaries, within the meaning of article L. 233-1 of the French Commercial Code, by one of the representatives of the local authorities or their groupings on their board of directors or supervisory board, appointed by the latter. This representative must come from a local authority or group exercising…

In the year following the appointment of any newly elected member as a member of the board of directors or the supervisory board of a local semi-public company, the said company offers the elected member training in the operation of a public limited company, financial control, the duties, depending on the form of the company, of the board of directors or the management board and the supervisory board, as well…

Local elected representatives who hold the position of member or chairman of the board of directors, managing director, deputy managing director, chairman and managing director, member of the management board, member or chairman of the supervisory board, chairman or manager of a company or director or member of the assembly of an economic interest grouping in which the local semi-public company holds a stake may only receive remuneration or special…