Subsection 4: Rules governing the operations of sociétés de crédit foncier (building societies)

The total amount of the assets of sociétés de crédit foncier must be greater than the amount of the liabilities benefiting from the privilege referred to in article L. 513-11. The Minister responsible for the economy shall determine the methods for valuing these assets and liabilities.

Loans and exposures referred to in Article L. 513-2 and similar receivables are assigned to a société de crédit foncier simply by delivering a slip to the assignee, the details of which are set by decree. Notwithstanding the opening of any safeguard, receivership or liquidation proceedings against the assignor subsequent to the assignment, the assignment takes effect between the parties and becomes enforceable against third parties on the date entered…

When all or part of the remuneration due under a partnership contract or a contract referred to in the first paragraph of Article L. 6148-5 of the Public Health Code in respect of investment costs, which include in particular study and design costs, construction costs and related costs, interim financial costs and financing costs, is assigned pursuant to Article L. 513-13 of this Code, the contract may provide for this…

Loans, exposures, similar claims, securities and deposits, bonds or other resources provided for in article L. 513-2 may only be managed or collected by a credit institution or finance company that has a contractual relationship with the société de crédit foncier.

The credit institution or finance company responsible for managing the loans, exposures, similar receivables, securities and deposits is authorised to take legal action, both as plaintiff and defendant, and to exercise all means of enforcement in the name and on behalf of the société de crédit foncier.

In the event of a change in the legal entity responsible for managing or collecting loans, securities, exposures or similar claims, debtors are informed by simple letter.