Chapter II: Mutual and cooperative banks.

The standard articles of association provided for in article L. 512-73 are approved by a joint order of the ministers responsible for maritime fisheries and the economy. The articles of association of the regional caisses de crédit maritime mutuel and their unions, as well as any amendments thereto, are submitted to the central body of the caisses d’épargne et des banques populaires, which verifies that they comply with these standard…

Établissements de crédit maritime mutuel are subject to the disclosure formalities to which commercial companies are subject under articles R. 123-150 to R. 123-162 of the French Commercial Code.

The Minister responsible for maritime fisheries defines the conditions for granting loans to members of the Crédit Maritime Mutuel in application of the first paragraph of Article L. 512-68. Representatives of the Minister responsible for maritime fisheries attend meetings of the Board of Directors and the general meetings of the regional mutuals and unions.

In the event of a vacancy for the post of Director of a Regional Bank or Union, applications are subject to an initial selection process organised by the Board of Directors of Société Centrale de Crédit Maritime Mutuel, which forwards the files of the successful candidates to the Regional Bank or Union. The appointment of a director is decided by the Board of Directors of the Regional Bank or Union,…

The Board of Directors of the central body of the caisses d’épargne et des banques populaires, after consulting the Board of Directors of the Société centrale de crédit maritime mutuel, decides whether to withdraw the authorisation of the manager of a regional caisse or union. The Board of Directors of the central body of the caisses d’épargne et des banques populaires is consulted by the Board of Directors of the…

In an emergency, the suspension of the General Manager of the Société centrale du crédit maritime mutuel and that of a Regional Bank or Union Manager shall be ordered by the General Manager of the central body for savings banks and banques populaires, who shall immediately refer the matter to the Board of Directors of that institution. No suspension may exceed six months.

In the cases provided for in Article L. 512-80, the central body of savings banks and banques populaires may only propose the dissolution of the Board of Directors after obtaining the opinion of the Société centrale de crédit maritime mutuel.