Paragraph 3: The guarantee fund.

The guarantee fund of the undertakings referred to in Article L. 310-3-2 authorised to operate one or more of the classes referred to in 20 to 28 of Articles R. 321-1 of this Code, R. 211-2 of the Mutual Code and R. 931-2-1 of the Social Security Code is equal to one third of the minimum required solvency margin defined in Article R. 334-13, but may not be less than…

The provisions of article R. 334-15 concerning the minimum amount of the guarantee fund do not apply to mutual insurers and unions governed by Book II of the Mutual Code which : a) either exclusively guarantee death benefits where the lump sum does not exceed 150% of the monthly social security ceiling or where these benefits are provided in kind ; b) meet all of the following conditions: -their articles…