Section 7: Crédit maritime mutuel

The purpose of Crédit Maritime Mutuel is to facilitate the financing of operations and investments relating to sea fishing, sea farming and related activities, as well as the extraction of sand, gravel and marine soil improvers and the harvesting of plants from the sea or maritime areas. Maritime mutual credit institutions may also, subject to the provisions specific to the institutions mentioned in Article L. 512-69 (5) , carry out…

Crédit maritime mutuel is provided by four categories of credit institutions affiliated to the central body for savings banks and popular banks: 1. Regional caisses de crédit maritime mutuel ; 2. Unions de crédit maritime mutuel, which regional mutual banks may form between themselves with, where appropriate, groupings such as those defined in Article L. 512-74; 3 (Repealed) 4. The banques populaires governed by articles L. 512-2 to L. 512-13;…

The publication formalities required when the institutions mentioned in 1 and 2 of article L. 512-69 are created or in the event of subsequent acts or deliberations are determined by the decree provided for in article L. 512-84. These institutions have legal personality from the date of their registration in the Trade and Companies Register.

The central body of the caisses d’épargne et des banques populaires supervises the regularity of the financial and accounting operations of the affiliated institutions mentioned in Article L. 512-69 ; it carries out all financial transactions on their behalf; it provides them with its services while respecting their legal and financial autonomy. The decree provided for in Article L. 512-84 determines the conditions under which the central body of savings…

The regional mutuals and the associations constitute a special category of commercial companies governed by this section and by the non-contradictory provisions of law no. 47-1775 of 10 September 1947 on the status of cooperative societies, by the provisions of the Commercial Code relating to variable capital companies, by articles L. 231-1 to L. 231-8 and by 2° of article L. 238-3 of the Commercial Code. The Regional Mutuals and,…

Without prejudice to the application of the provisions of article 3a of law no. 47-1775 of 10 September 1947 on the status of cooperation, the following may be members of a regional caisse de crédit maritime mutuel or a union 1. Natural persons who, as their main occupation, carry on or have carried on one of the professional activities mentioned in the first paragraph of article L. 512-68 as well…

The caisses régionales de crédit maritime mutuel and the unions are set up for a limited period. Their share capital is variable. It is represented by registered shares. It may not be reduced to an amount less than the founding capital, set by the articles of association at an amount at least equal to the minimum to which the regional caisses de crédit maritime mutuel and, where applicable, the associations…