Section IV: Mutual insurance companies

Except in application of the provisions of the first paragraph of Article R. 322-65 , under no circumstances may a member be required to pay more than the premium shown on his policy in the case of a fixed-contribution company, or more than the maximum premium shown on his policy in the case of a variable-contribution company. The maximum contribution in the latter case may not be less than one…

The Board of Directors or the Management Board decides on the eligibility and pricing of any risk provided for in the Articles of Association, subject to the application of the laws and regulations in force. No preferential treatment may be granted to a member. Following the Ordinary General Meeting held to approve the annual accounts, the Board of Directors sets the amount of the admission or membership fee applicable until…

Surplus income may be distributed only after the reserves and provisions prescribed by the laws and regulations in force have been set aside, after the establishment expenses have been fully amortised and after the regulatory provisions concerning the solvency margin or the solvency capital requirement of the company and, where applicable, of the group, have been satisfied. The deferred charges established pursuant to Article R. 343-6 are deducted from the…

Surpluses distributable in accordance with articles R. 322-77 and R. 322-106 are allocated on a priority basis to early repayment of the loan mentioned in article R. 322-49 in proportion to the subscriptions of each member. When the company takes the initiative to deregister a member, the member may request immediate repayment of his contribution to the loan. The same applies if the member makes use of the right provided…

In the event of force majeure resulting from adverse weather conditions or epizootic diseases of an exceptional nature, a decree issued on the report of the Minister for the Economy and Finance and the Minister for Agriculture may authorise one or more of the companies governed by this section, once their available resources have been exhausted, to immediately pay only part of the claims due to these causes. The companies…

If, as a result of losses recorded in the accounting documents, the net assets fall below half the amount of the formation fund, the Board of Directors or the Management Board is required to call a General Meeting, deliberating as described in article R. 322-65, to decide whether the company should be wound up.