Chapter II: Mutual and cooperative banks

The main purpose of the caisses de crédit agricole mutuel is to facilitate and guarantee transactions relating to agricultural production and agricultural and rural equipment carried out by their members.

The Caisses de Crédit Agricole Mutuel admit as members agricultural groups or their members, communities, associations and organisations, the list of which is set by decree, as well as rural craftsmen employing no more than two workers on a permanent basis. However, the Articles of Association may provide that the Caisses de Crédit Agricole Mutuel may admit as members persons for whom they have carried out one of the transactions…

The capital of the caisses de crédit agricole mutuel may not be formed by share subscriptions. It must be formed by member-policyholders by means of shares. These shares are in registered form. They are negotiable, but their transfer is subject to the approval of the caisse’s Board of Directors. The caisses de crédit agricole mutuel can only be formed after a quarter of the share capital has been paid in.

If the fund has variable capital, the capital may not be reduced below the amount of the foundation capital by the withdrawal of the contributions of the outgoing members.

The capital of mutual agricultural credit cooperatives that have called on the financial assistance of the central body of agricultural credit may not be reduced without the express authorisation of this body below the figure it reached when the last advance was granted.

In principle, members of the caisses de crédit agricole mutuel may only be released from their commitments to the caisses de crédit agricole mutuel after liquidation of the operations in progress at the time of their withdrawal. In all cases, their liability ceases five years after the date of their withdrawal. Under no circumstances are legal entities governed by public law liable for more than the shares subscribed.