I. – The sums distributable by a real estate investment fund in respect of a financial year are made up of : 1° Distributable income relating to income earned by the fund, which is equal to the net income referred to in article L. 214-51, plus retained earnings, plus or minus the balance of accruals as defined by decree; 2° Capital gains from the sale of assets mentioned in 1°…
Notwithstanding the provisions of article L. 214-52, the amounts distributable in respect of the capital gains mentioned in 2° of II of article L. 214-81 must be paid before the last day of the sixth month following the disposal of the aforementioned assets.
Unitholders or their successors may not cause the division of the real estate investment trust. Unitholders are liable for the debts of the co-ownership only up to the amount of the fund’s assets and in proportion to their share.
The terms of liquidation and the methods of asset distribution are determined by the fund rules. The management company acts as liquidator under the supervision of the custodian. Failing this, the liquidator shall be appointed by the courts at the request of any unitholder.
I. – An undertaking for collective real estate investment may have several sub-funds if the regulations of the real estate investment fund or the articles of association of the société de placement à prépondérance immobilière à capital variable so provide. Each sub-fund gives rise to the issue of one or more classes of units or shares representing the assets of the undertaking for collective real estate investment allocated to it….
The groupements forestiers d’investissement mentioned in II of article L. 331-4-1 of the Code forestier are subject to articles L. 214-86 to L. 214-113 of this Code. Sociétés Civiles de Placement Immobiliers or Sociétés d’Epargne Forestière may offer their shares to the public, provided that the shares held by the founding members represent a total value at least equal to the minimum share capital as set out in article L….
The draft articles of association of a société civile de placement immobilier or a société d’épargne forestière to be formed by public offering are drawn up and signed by one or more founders. The initial capital must be fully subscribed. The conditions set out in this article do not apply when a société civile de placement immobilier or a société d’épargne forestière is formed by means of a public offering…
The minimum share capital may not be less than €760,000. Shares are registered and have a minimum par value of €150.
Partners may only be held liable if the société civile or the société d’épargne forestière has previously been unsuccessfully sued. Each member is liable to third parties on the basis of his share in the capital, up to a limit of twice the amount of that share. The articles of association of the société civile or société d’épargne forestière may provide that the liability of each member is limited to…
In the event of the personal bankruptcy, liquidation, receivership or safeguard of one of the members of a société civile or a société d’épargne forestière whose shares have been offered to the public, the offer to sell the member’s shares shall be entered in the company register referred to in Article L. 214-93. The provisions of this article do not apply to the public offers referred to in 1° of…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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