Paragraph 2: Mutual insurance companies with a supervisory board and management board

I.-Where the control of the company is entrusted to a Supervisory Board, the latter shall consist of at least three members. The Articles of Association set the maximum number of members of the Board, which may not exceed eighteen. Members elected by employees in accordance with the provisions of article L. 322-26-2, whose number must be specified in the articles of association, are not taken into account when determining the…

I.-The Supervisory Board exercises ongoing control over the management of the company by the Executive Board. The Articles of Association may require the prior authorisation of the Supervisory Board for the transactions listed therein. However, the sale of real estate by nature, the total or partial sale of shareholdings, the creation of security interests, and sureties, endorsements and guarantees are subject to authorisation by the Supervisory Board under the conditions…

I.-Where the mutual insurance company is managed by a management board, the latter shall consist of not more than two and not more than five members. The number of members of the Management Board is determined by the articles of association or, failing that, by the Supervisory Board. The members of the Management Board are appointed by the Supervisory Board, which appoints one of them as Chairman. II – The…

I. – The Management Board carries out its duties under the supervision of the Supervisory Board. The Management Board is vested with the broadest powers to act in all circumstances on behalf of the company; it exercises these powers within the limits of the corporate purpose and subject to those powers expressly granted by law to the Supervisory Board and to Members’ Meetings. In dealings with third parties, the Company…