Section 4: Crédit Mutuel.

The Crédit Mutuel network comprises the Confédération Nationale du Crédit Mutuel and the caisses de Crédit Mutuel, made up of local caisses and the departmental and interdepartmental caisses referred to in Article L. 512-55 . Credit institutions and finance companies controlled directly or indirectly, exclusively or jointly within the meaning ofArticle L. 233-16 of the Commercial Code by one or more members of the Crédit Mutuel network may also be…

The caisses de crédit mutuel must justify their objectives in accordance with the general principles of Crédit Mutuel and in particular be non-profit making, limit their activity to a specific territorial area or to a homogeneous group of members, and establish the responsibility of the members. Members of the Crédit Mutuel network must undertake to comply with the articles of association, internal regulations, instructions and decisions of the Confédération Nationale…

The Confédération nationale du crédit mutuel draws up and keeps up to date the list of caisses, credit institutions and finance companies affiliated to it. The Board of Directors of the Confédération nationale du crédit mutuel may only decide to include a credit union, credit institution or finance company on the list if the conditions set out in Article R. 512-20 are met and the inclusion requested is compatible with…

The decisions of the Board of Directors of the Confédération nationale du crédit mutuel shall state the reasons on which they are based and shall specify, where applicable, the conditions and deadlines for their application. They are subject to appeal.

Only caisses registered on the list provided for in article R. 512-21 may use the designation Caisse de crédit mutuel and include this designation in their name, company name or advertising, and use it in any way whatsoever in their business.

The Board of Directors of the Confédération Nationale du Crédit Mutuel may impose one of the following sanctions on a member of the Crédit Mutuel who breaches the regulations in force: 1° A warning ; 2° a reprimand 3° Removal from the list provided for in article R. 512-21.

Members of the Crédit Mutuel network are notified of the sanctions to which they are liable and invited to express their observations or to be represented at the meeting of the Confédération Nationale du Crédit Mutuel at which their case will be examined. The Board of Directors of the Confédération decides on sanctions by a two-thirds majority of the members present. Sanction decisions are substantiated, brought to the attention of…