Subsection 3: Financial provisions and control of foundations

The foundation’s endowment is made up of contributions from the founding members in the form of tangible and intangible assets, rights or resources defined by the articles of association. Part of the endowment may be used in accordance with the conditions set out in article R. 6141-62. It may be increased by donations and bequests and by a fraction of the surplus of annual resources. Any increase in the endowment…

The foundation’s annual resources are made up of: 1° Income from the endowment; 2° The portion of the endowment that may be used up, as determined by the articles of association, up to an annual limit of 20% of the endowment. The unused portion of the endowment may not be less than 10% of the initial endowment or, for foundations with an endowment of more than 10 million euros, one…

The Foundation’s internal rules may only come into force if the Director General of the Regional Health Agency does not object within a period of one month. They shall be amended under the same conditions. The statement of projected income and expenditure and any amending statements voted by the Board of Directors are submitted to the Director General of the Regional Health Agency for approval. If the Director General remains…