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Article D514-20 of the French Monetary and Financial Code

Sales are made exclusively in cash and in euros. Judicial auctioneers, or other public or ministerial officers entrusted with sales under the conditions set out in article D. 514-17, are liable to the institution for the amount of the bids recorded in the sales reports and the ancillary fees collected by them on behalf of the institution.

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Article D514-21 of the French Monetary and Financial Code

If borrowers have not requested repayment of the bonuses to which they are entitled within three months of the sale proceeds being cleared, the institution will notify them of these bonuses, if they are equal to or greater than 15 euros, by prepaid letter sent in accordance with the rules of confidentiality. The cost of postage is borne by the borrower and is deducted from the amount of the bonus…

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Article D514-22 of the French Monetary and Financial Code

When an item that has been pledged as collateral for a loan is claimed by a person other than the borrower, on the grounds of theft or any other cause, the Caisse remains the receiver of the item, which cannot therefore be the subject of a requisition for seizure prior to the outcome of the legal proceedings. The person claiming the item must, in order to obtain its return :…

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Article R514-23 of the French Monetary and Financial Code

The guidance and supervisory board of a caisse de crédit municipal comprises, in addition to the chairman, between six and twenty members. The number of members of the guidance and supervisory board is decided by the mayor of the municipality in which the caisse has its registered office, after consultation with the director of the caisse de crédit municipal. The mayor informs the municipal council of his decision.

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Article R514-24 of the French Monetary and Financial Code

Members of the Guidance and Supervisory Board must not have been convicted of any offence entailing electoral disqualification or incapacity. If a member is disqualified or disqualified from standing for election during his term of office, he shall be declared automatically to have resigned by the representative of the State in the département in which the principal place of business is located.

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Article R514-25 of the French Monetary and Financial Code

The term of office for members of the Guidance and Supervisory Board is three years. This term is renewable. Members of the Guidance and Supervisory Board, who are elected from among their number by the municipal council of the municipality in which the establishment has its registered office, retain their mandate with the Caisse only insofar as they continue to be members of the municipal council. The term of office…

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Article R514-28 of the French Monetary and Financial Code

The Guidance and Supervisory Board elects a Vice-Chairman by an absolute majority of its members in office. If, after two rounds of voting, no candidate has obtained this majority, the election is held in the third round by a relative majority; in the event of a tie, the oldest candidate is declared elected.

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