Section 7: Crédit maritime mutuel

The Director implements the decisions of the Board of Directors; he is vested with the powers necessary to ensure, within the framework of these decisions, the management of the Regional Mutual or Association. He represents the Regional Mutual or Association in its dealings with third parties.

If the Board of Directors takes decisions contrary to the specific legislative or regulatory provisions governing Crédit Maritime Mutuel or if it fails to perform its duties, the central body of the savings banks and banques populaires may, without prejudice to the provisions of the last paragraph of I of Article L. 612-34, after unsuccessful formal notice and under the conditions defined by the decree provided for in Article L….

The members meet at least once a year at a General Meeting. Each member has as many votes as shares held, within the limits set by the Articles of Association. Under the conditions and within the limits laid down in the Articles of Association, any individual member may be authorised to represent other members. The Ordinary General Meeting approves the accounts for the past financial year and exercises the powers…