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Article R512-4 of the French Monetary and Financial Code

The following may join the caisses de crédit agricole mutuel: 1° Agricultural cooperative societies and associations thereof; 2° Associations syndicales with an exclusively agricultural purpose, their unions and land associations; 3° Agricultural collective interest companies; 4° Professional agricultural unions, livestock companies, agricultural associations recognised by law and dependent on the Ministry of Agriculture whose purpose is to promote agricultural production, as well as their unions and federations; 5° Caisses d’assurances…

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Article R512-5 of the French Monetary and Financial Code

The Caisses de Crédit Agricole Mutuel may provide financial assistance to users who are not members but fall into the following categories: 1° Businesses whose main activity is the production, storage, processing or marketing of agricultural or food products; 2° Liberal professions, holders of public office and ministerial officers, commercial, industrial, craft and service-providing companies; 3° Building owners and builders; 4° Associations, groupings, non-trading companies and other bodies of a…

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Article R512-7 of the French Monetary and Financial Code

One of the copies of the articles of association and the list of members of the caisse de crédit agricole mutuel is filed with the clerk of the judicial court. Each year, before 1st June, a director or the manager of the caisse shall file, in duplicate, at the clerk’s office of the judicial court within whose jurisdiction the registered office of the caisse is located, a copy of the…

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Article R512-9 of the French Monetary and Financial Code

A discount committee is set up at the local mutual banks and regional mutual banks. This committee, made up of at least two members, including a director specially delegated for this purpose, is responsible for examining loan applications. The committee’s decisions are recorded in a special register.

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Article R512-11 of the French Monetary and Financial Code

Each year, after deducting charges and general expenses, paying interest on loans and deposits, setting aside reserves for the depreciation of fixed assets, setting aside sufficient provisions to meet the risks of losses that the caisses de crédit agricole mutuel may have to bear, and paying interest on shares in the share capital, at least three-quarters of the surplus income is allocated to setting up a reserve fund. The balance…

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Article R512-12 of the French Monetary and Financial Code

Deposits of funds with a maximum maturity of two years received by the regional or local mutual agricultural credit banks benefiting from advances from the central body of Crédit Agricole must be used exclusively for short-term credit transactions. Caisses de crédit agricole mutuel that fail to comply with this requirement may not receive new advances from the central body of Crédit Agricole for medium-term loans or individual and group long-term…

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Article R512-13 of the French Monetary and Financial Code

Bonds issued by the Caisses de Crédit Agricole Mutuel with a maximum maturity of two years must be used in short-term credit transactions in accordance with the provisions of the first and second paragraphs of article R. 512-12. Bonds maturing in more than two years may be used in accordance with the provisions of the third paragraph of article R. 512-12.

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