Chapter I: General savings products with specific tax arrangements.

Sums credited to a Livret d’Epargne Populaire account are repayable on demand.

Unless otherwise stipulated in this chapter, deposits, withdrawals and transfers between the popular savings passbook account and the holder’s current account are carried out in accordance with the general regulations applicable to passbook accounts.

The transactions referred to in article R. 221-42 are those defined for passbook accounts by order of the Minister for the Economy, in accordance with the procedures set out in article L. 611-1.

Payments into a people’s savings passbook account may not exceed €10,000.

The balance of a popular savings passbook account may be reduced to zero. However, no transaction may have the effect of debiting the account.

The remuneration of the people’s savings passbook account includes interest set by order of the Minister for the Economy. At 31 December each year, the interest is added to the capital and itself becomes interest-bearing.

The capitalisation provided for in article R. 221-50 may raise the amount of the account above the ceiling on authorised deposits referred to in article D. 221-46.

If the account is closed during the year, the interest earned is credited on the day the account is closed.

The holder of a people’s savings passbook account may transfer his funds from one institution to another, without loss of interest. The formalities relating to this transfer are laid down by the Minister for the Economy.

People’s savings passbooks and rights belonging to their holders may not be pledged as collateral.