Title II: Savings products

I. – The tax authorities will respond to the requesting institution within a maximum of two working days. No A passbook account may be opened before receipt of this reply, failing which the institution will be liable to the penalties set out inarticle 1739 of the General Tax Code. There are three possible scenarios: 1° If the tax authorities reply that the customer has no other Livret A savings account,…

I. – The information communicated by the tax authorities pursuant to article R. 221-123 may not be communicated to the institution’s sales department, which is informed only of the existence of another Livret A passbook account, nor used for commercial purposes, nor archived in information systems that may be used for commercial purposes. II. – Failure by the institution to comply with the provisions of I is subject to the…

If a credit institution receives a request to close an A passbook account, it must do so within fifteen working days of receiving the request.

The provisions of articles R. 221-121 to R. 221-125 are applicable to Crédit Mutuel special passbook accounts opened before 1 January 2009.