TITLE II: LOCAL SEMI-PUBLIC COMPANIES

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…

When a local authority or group of local authorities has granted its guarantee for loans contracted by a local semi-public company, it has the right, provided that it is not a shareholder directly represented on the board of directors or supervisory board, to be represented at the local semi-public company by a special delegate appointed from among its members by the deliberative assembly of the local authority or group. The…

The provisions of articles L. 2253-1 and L. 3231-6 do not apply to the acquisition of shares whose purpose is to give local authorities or their groupings a majority stake in the capital of local semi-public companies.

By way of derogation from article L. 225-218 of the French Commercial Code, local semi-public companies are required to appoint at least one statutory auditor. This obligation also applies to companies controlled, within the meaning of article L. 233-3 of the same code, by local semi-public companies. In the absence of such an obligation for non-controlled companies, the shareholder local authorities and groupings may make the agreement required pursuant to…