Chapter II: Mutual and cooperative banks

The sociétés coopératives de banque are fixed-capital companies in the form of unions of cooperatives subject to the provisions of this section and, insofar as they are not contrary thereto, to the provisions of law no. 47-1775 of 10 September 1947 on the status of cooperatives. Without prejudice to the application of the provisions of article 3 bis of law no. 47-1775 of 10 September 1947 on the status of…

Cooperative banks are authorised to increase their capital by capitalising reserves. They are authorised to pay interest on their capital ensuring a return at most equal to the average rate of fixed-rate bonds with a final maturity of more than seven years, whose capital or interest is not indexed, issued or guaranteed by the State, this rate being recorded on the secondary market in Paris by the Caisse des dépôts…

Cooperative banks are credit institutions. They may receive deposits from any natural or legal person. They must grant at least 80% of their loans to their members, their members’ members, cooperative societies, mutual benefit societies or mutual insurance companies or supplementary professional retirement funds constituted in the form of mutual insurance companies governed by the Insurance Code, non-profit associations governed by the law of 1 July 1901 or the local…