Title V: The capitalisation contract.

In the event of a draw, the sums repaid must be either equal to or increase with each successive draw, without exceeding the capital repayable at maturity. Draws may not be made more than once a month. The conditions under which the draws are made and the publicity given to their results are set by decree after consultation with the Conseil National des Assurances.

Draws of lots to determine which capitalisation contracts or securities may be redeemed early must be made publicly in the presence of a bailiff, at the places specified in the contracts, and under the conditions laid down in the said contracts and in this section. All subscription forms must state in bold print that the securities may only be redeemed early by drawing lots in the presence of a bailiff.

After each drawing, a complete list is drawn up of the numbers or letter combinations resulting from this drawing, as well as the numbers that can be immediately deduced from the first ones by a simple method, the explanation of which is given on the title, and which can therefore be considered as exclusively designated by the drawing of these first numbers. Each tariff must be listed separately.

Minutes of the draw, including the list referred to in article R. 150-6, are drawn up by the bailiff after the draw, in the presence of the persons who attended the draw.

In the event of a title being withdrawn from a print run, the company must, prior to any approach by its representatives to the beneficiary, inform the latter by paper or any other durable medium that his contract with the company has ended and that he will be paid, without any deduction or obligation on his part, either towards the person making the payment or towards the company, the sum…

After each draw and within a period of eight days, the companies must publish the list provided for in article R. 150-6 and, opposite this list, a second list indicating the contracts or securities actually redeemable. This second list may not contain numbers or combinations of letters other than those appearing on the first list.

Copies of the two lists referred to in article R. 150-9 must be sent to any interested party upon request.

Any interested party has the right, after each print run, on request, to be issued with a complete list of the titles issued in the series in which he or she is interested and not yet reimbursed.

All documents relating to the draws must contain the following summary information: 1° The number of draws per year, as well as their dates and the duration of the titles; 2° The draw mechanism and the publicity conditions under which the draws are made; 3° The resources used to fund the drawings when they are not guaranteed, the proportion of securities redeemed in advance at each drawing, with details of…

If the above-mentioned documents contain a statement of titles that have been withdrawn from the print run, this statement may only be made in the form of a reproduction of the two lists provided for in article R. 150-9, each list being preceded by an indication of the tariff in question and the date of the print run during which the numbers stated were withdrawn.