Section 3: Guaranteed representation of funds, professional civil liability, remuneration and continuing professional training.

The guarantee fund instituted in Article L. 814-3 has its registered office in Paris.

The guarantee fund is managed by a board of directors composed of twelve members, including six judicial administrators and six judicial representatives, registered on the national lists. These members are elected for five years. The six judicial administrators are elected by the natural persons registered on the national list of judicial administrators and the six judicial representatives by those registered on the national list of judicial representatives. In the event…

The elections are organised by the board of directors of the guarantee fund, which determines the procedures applicable to them in accordance with rules submitted for approval to the Minister of Justice. The board responsible for counting the votes comprises the chairman, vice-chairman, secretary and treasurer of the fund’s board of directors. The candidates who obtain the highest number of votes in each college are elected. Complaints are referred to…

The Board of Directors elects from among its members a Chairman, a Vice-Chairman, a Secretary and a Treasurer. Decisions are taken by majority vote. In the event of a tie, the chairman shall have the casting vote. The magistrate from the public prosecutor’s office charged with the duties of Government commissioner to the guarantee fund and his deputy shall be appointed by the Keeper of the Seals, Minister of Justice….

The Board of Directors determines the management expenses of the guarantee fund and manages its assets. Before 31 March each year, it draws up the fund’s balance sheet for the operations of the previous year. This balance sheet is certified by an auditor chosen by the board of directors of the guarantee fund. The board of directors convenes a general meeting of contributors to present this balance sheet to it.

The amount of the contributions of registered judicial administrators and judicial representatives is set each year by the board of directors of the guarantee fund on the basis of the amount of funds not distributed by the professional at 31 December of the previous year for the guarantee concerning the representation of funds and on that of the firm’s turnover for the guarantee concerning professional civil liability. If the Government…

Available funds from the guarantee fund must be deposited with the Caisse des dépôts et consignations. They may be invested in bonds and other securities issued or guaranteed by a Member State of the European Community.

Professional indemnity insurance contracts must provide a minimum cover of 800,000 euros per claim per year for each insured person.

The guarantees that must be provided by an insolvency administrator not registered on the national list, appointed under the conditions provided for in the second paragraph of article L. 811-2 and the judicial representative not registered on the national list, appointed under the conditions provided for in the first paragraph of II or III of article L. 812-2, must be at least equivalent to those provided for in l’article R….

The chairman of the board of directors of the guarantee fund shall inform the public prosecutor at the court of appeal in whose jurisdiction the interested party has his professional domicile, the government commissioner at the registration and disciplinary committee, the coordinating magistrate mentioned in Article R. 811-40, as well as the President of the Conseil national, of any professional liability action brought against an administrator or a mandataire judiciaire.