Call Us + 33 1 84 88 31 00

Article L214-55-1 of the French Monetary and Financial Code

Prior to their appointment, all external valuation experts shall inform the open-ended real estate investment company or the fund management company whether or not they have taken out an insurance policy covering the financial consequences of their professional civil liability. This information is included in the management report drawn up by the open-ended real estate investment company (société de placement à prépondérance immobilière à capital variable) or by the fund…

Read More »

Article L214-56 of the French Monetary and Financial Code

The external valuation expert, any member of a management body or any person who, in any capacity whatsoever, participates in the direction or management of an external valuation expert or who is employed by the latter is bound by professional secrecy under the conditions and subject to the penalties set out in articles 226-13 and 226-14 of the French Penal Code. As part of their mission, external valuation experts are…

Read More »

Article L214-57 of the French Monetary and Financial Code

Under the conditions specified by the general regulations of the Autorité des marchés financiers, each external valuer is appointed by the open-ended real estate investment company or the fund management company for a period of four years. The identity of the appointed external valuers is mentioned in the information document provided for by the general regulations of the Autorité des marchés financiers, for the undertaking for collective investment in real…

Read More »

Article L214-61 of the French Monetary and Financial Code

Undertakings for collective investment in real estate are managed by a portfolio management company referred to in article L. 532-9 and designated in the articles of association or by-laws of the undertaking for collective investment in real estate. The management company of undertakings for collective investment in real estate may be the manager of the companies in which the undertaking for collective investment in real estate it manages holds the…

Read More »

Article L214-61-1 of the French Monetary and Financial Code

The articles of association of a société de placement à prépondérance immobilière à capital variable (open-ended real estate investment company) or the regulations of the fonds de placement immobilier (real estate investment fund) may provide for the amount of units or shares subscribed to be paid up in instalments. These units are registered shares. If the units or shares have not been fully paid up, the subscriber and successive transferees…

Read More »

Article L214-62 of the French Monetary and Financial Code

A société de placement à prépondérance immobilière à capital variable (open-ended real estate investment company with predominantly variable capital) is a société anonyme (public limited company) or a société par actions simplifiée (simplified joint stock company) with variable capital in the form of a société par actions simplifiée (simplified joint stock company), other than a société par actions simplifiée (simplified joint stock company) set up by a single person and…

Read More »

Article L214-63 of the French Monetary and Financial Code

As an exception to the first paragraph of Article L. 225-51-1, the first paragraph of Article L. 225-53 and the third paragraph of Article L. 225-59 of the Commercial Code, the functions of Managing Director, Deputy Managing Director, Chairman of the Management Board or Sole Managing Director are performed by the management company. The management company appoints a permanent representative who is subject to the same conditions and obligations and…

Read More »

Contact a French lawyer now

Contact a French Business Lawyer

Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.

Useful links

You have a question in French Business Law?

Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.

All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.