Section I: Contract reference value.

Where the contracting party or beneficiary chooses cash settlement, the sum paid in accordance with the contract is equal to the foreign currency equivalent of the units of account, based on the surrender or realisation value of these securities on the date stipulated for this purpose in the contract. This date may not be more than thirty days after the date on which the claim for benefit is submitted to…

The value referred to in article R. 131-2 is obtained by dividing the net assets of the real estate or property company by the number of shares or units. The net assets are those shown in the last balance sheet after allocation of profits and revaluation of properties, in accordance with article R. 343-11 d. However, for the valuation of the guaranteed capital or annuity between two balance sheets, the…

When the unit of account used as a reference to value the capital or annuity guaranteed by the contract is an SCPI unit subject to supervision by the Commission des Opérations de Bourse, the value of this company referred to in article R. 131-2 must be the realisation value of this company within the meaning of article 11 of law no. 70-1300 of 31 December 1970 as amended.

The substitution of a unit of account for units of account of a comparable nature, as provided for in article R. 131-4 , is authorised by the Autorité de contrôle prudentiel et de résolution on the basis of a report by an expert appointed by the insurer. The expert certifies the comparability of the companies, with regard to the criteria of use – residential, offices, shopping centres – and the…