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Section II: Sociétés anonymes d'assurance, de capitalisation et de réassurance.

Article R322-5 of the French Insurance Code

French undertakings subject to State control under article L. 310-1 and constituted in the form of a société anonyme must have share capital, excluding contributions in kind, of at least 800,000 euros in order to conduct the classes of business referred to in 10 to 15 and 20, 21, 22, 24, 25 and 28 of article R. 321-1, as well as reinsurance operations. In order to carry out operations in…

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Article R322-6 of the French Insurance Code

The charge brought forward pursuant to article R. 343-6 is deducted from the distributable profit referred to in article L. 232-11 of the French Commercial Code. It is also deducted from the profit defined in the second paragraph of article L. 232-12 of the same code.

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Article R322-7 of the French Insurance Code

The Statutory Auditors’ special report provided for in the third paragraph of article L. 225-40 and the third paragraph of article L. 225-88 of the Commercial Code must contain, in addition to the information listed in articles 92 or 117 of decree no. 67-236 of 23 March 1967 on commercial companies, an indication of the amounts paid to the persons mentioned, as the case may be, in article 101 or…

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Article R322-8 of the French Insurance Code

In prospectuses, posters, circulars, notices, advertisements or any other documents relating to the loans of the companies mentioned in article R. 322-5, it must be explicitly stated that a lien has been instituted in favour of the insured parties by article L. 327-2 and that the lender, even if insured, does not benefit from any lien for the interest and repayment of this loan. This information must also be clearly…

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Article R322-9 of the French Insurance Code

Prospectuses, posters, circulars, notices, advertisements or documents of any kind, as well as policies issued by the sociétés anonymes referred to in this section must indicate, below the amount of the share capital, the portion of such capital already paid up.

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Article R322-10 of the French Insurance Code

The companies referred to in 1° of III of article L. 310-1-1 incorporated as sociétés anonymes must have share capital, excluding contributions in kind, of at least 800,000 euros. Prior to incorporation, each shareholder must pay at least half the amount of the shares subscribed for in cash.

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Article R322-11-1 of the French Insurance Code

I.-Any transaction enabling a person, acting alone or in concert with other persons within the meaning of article L. 233-10 of the French Commercial Code, to acquire, extend, reduce or cease to hold, directly or indirectly, a stake in an undertaking referred to in 1° of article L. 310-2 or 1° of III of article L. 310-1-1 of this code must be notified to the Autorité de contrôle prudentiel et…

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Article R322-11-2 of the French Insurance Code

I.-The Autorité de contrôle prudentiel et de résolution shall acknowledge receipt in writing, within two business days of its receipt, of the notification of an acquisition or extension of shareholding referred to in I of Article R. 322-11-1. The Autorité de contrôle prudentiel et de résolution has sixty working days from the date of acknowledgement of receipt of the notification to assess the transaction. The AMF shall inform the proposed…

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Article R322-11-3 of the French Insurance Code

Within two working days of receiving notification of a disposal or reduction in holding as referred to in Article R. 322-11-1, the Autorité de contrôle prudentiel et de résolution shall acknowledge receipt of the notification in writing to the declarant. The Autorité de contrôle prudentiel et de résolution has sixty working days from receipt of this acknowledgement to inform the declarant and the undertaking concerned by the proposed transaction that,…

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Article R322-11-4 of the French Insurance Code

The undertakings referred to in 1° of Article L. 310-2 and in 1° of III of Article L. 310-1-1 shall inform the Autorité de contrôle prudentiel et de résolution, at least once a year, of the identity of shareholders or members who hold, directly or indirectly, at least 10% of the voting rights or capital of the undertaking, as well as the amount of these holdings, as shown in particular…

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