Subsection 2: Mobilisation of loans by the assignee or the pledgee.

I. – A secured claim within the meaning of article L. 313-42 may only be mobilised in accordance with the provisions of this article up to the limit of the smallest of the following amounts: 1. The outstanding principal amount of this claim ; 2. The product of the financing ratio defined in II and the value of the asset financed or provided as collateral. II. – The proportion referred…

A charge on real property, conferring a guarantee equivalent to a 1st ranking mortgage within the meaning of article L. 313-42, is one that gives the creditor, regardless of the debtor’s legal situation, the right to sell the property encumbered by this charge wherever it may be held and to be paid from the sale price in preference to other creditors.

For the purposes of 2° of I of article L. 513-3, eligible guaranteed loans are those for which a credit institution, finance company or insurance company with equity of at least 12 million euros is a joint guarantor.

The contract for the issue of bonds issued by a credit institution whose sole purpose is to refinance promissory notes complying with the provisions of articles L. 313-42 to L. 313-49 shall explicitly state: 1° The purpose of the mobilisation ; 2° The exclusive purpose of the issuing credit institution; 3° The exemption provided for in 2° of IV of article R. 214-21; 4° The privilege enjoyed by the issuing…

The issue by finance companies of the securities referred to in Articles L. 313-30 and L. 313-31 or the promissory notes referred to in Article L. 313-42 meets one or other of the following two conditions: 1° Subscription of securities issued pursuant to Articles L. 313-30 and L. 313-31 or promissory notes issued pursuant to Article L. 313-42 is reserved for persons providing portfolio management services on behalf of third…