Paragraph 2: Administration.

The national insurance undertakings referred to in Article L. 322-5 may be managed by the Board of Directors of the central company of their group. They may also have the same Chairman and Chief Executive Officer as the central company. The option provided for in the first paragraph above is implemented by decision of the general meeting of shareholders of the national insurance undertaking.

The Boards of Directors of the central insurance companies include, in addition to the Chairman and Chief Executive Officer: a) Three directors representing the French State, appointed by the Minister for the Economy and Finance; b) One director appointed by the Minister of the Economy and Finance for his technical expertise, after consultation with the Comité Consultatif du Secteur Financier. A second director is appointed under the same conditions when…