Subsection 1: Directors

I. – Within credit institutions or finance companies, the following persons must at all times be of sufficiently good repute and have the knowledge, skills and experience required to perform their duties: 1° Members of the Board of Directors, the Supervisory Board and the Management Board, the Chief Executive Officer and the Deputy Chief Executive Officers, as well as any other person or member of a body exercising equivalent functions;…

I. – The persons who effectively manage the business of the credit institution or finance company within the meaning of article L. 511-13 and the members of the Board of Directors, the Supervisory Board, the Management Board or any other body exercising equivalent functions must devote sufficient time to the performance of their duties within the company. II. – Where the credit institution or finance company is of significant importance…

Credit institutions and finance companies devote the necessary human and financial resources to training the persons mentioned in I of article L. 511-52.

Credit institutions and finance companies shall ensure that all loans granted to members of the board of directors, the supervisory board or any other body exercising equivalent supervisory functions or to their related parties are subject to appropriate documentation which may, on request, be made available to the Autorité de contrôle prudentiel et de résolution. For the purposes of the previous paragraph, a related party may be : 1° A…

A decree of the Conseil d’Etat shall specify the conditions of application of this sub-section.