Section 4: Mutual credit

The caisses de crédit mutuel are subject to the provisions of Law no. 47-1775 of 10 September 1947 on the status of cooperatives and to those of this section. Their exclusive object is mutual credit. They may receive deposits from any natural or legal person and admit third parties who are not members to benefit from their assistance or services under the conditions laid down in their articles of association….

Each caisse de crédit mutuel must belong to a regional federation and each regional federation must belong to the confédération nationale du crédit mutuel, whose articles of association are approved by the minister responsible for the economy. The confédération nationale du crédit mutuel is responsible for : 1. Representing the caisses de crédit mutuel collectively in order to assert their common rights and interests; 2. Exercising administrative, technical and financial…

The provisions of articles L. 512-55 to L. 512-57 are applicable to the caisses de crédit mutuel of Bas-Rhin, Haut-Rhin and Moselle, governed by the local law of 1 May 1889, as amended, on cooperative associations, validated by article 5 of the law of 1 June 1924.

A decree in the Conseil d’Etat shall determine, where necessary, the measures required for the application of this section.