Subsection 1: Caisses de crédit agricole mutuel

The Caisses de Crédit Agricole Mutuel are administered by a Board of Directors, the members of which are elected by the General Meeting of member-policyholders.

Without prejudice to the provisions of Article L. 612-40, the personal liability of the members entrusted with the administration of the Caisse shall only arise in the event of a breach of the Articles of Association or of the provisions of this Section.

In the event that the Board of Directors of a Regional Mutual Agricultural Credit Union ceases to hold office or takes decisions contrary to legal or regulatory provisions or the instructions of the Central Body of Agricultural Credit, the Central Body of Agricultural Credit may appoint a committee to be responsible for the provisional management of the Regional Mutual Agricultural Credit Union pending the election of a new Board of…

The Boards of Directors of the Caisses Régionales de Crédit Agricole Mutuel have powers over the administration and management of the local mutuals affiliated to them similar to those conferred by Article L. 512-38 on the central body of Crédit Agricole over the administration and management of the local mutuals. The election by the boards of directors of the local mutual agricultural credit cooperatives of their chairman, vice-chairmen and managing…

The appointment of directors of the regional mutual credit banks is subject to the approval of the central body of Crédit Agricole. Such appointments may not include any commitment by the regional mutual to maintain the director in office for a fixed term. Directors may be dismissed by a decision of the Managing Director of the Central Body of Crédit Agricole, taken after consulting the Board of Directors. They are…