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Article L512-33 of the French Monetary and Financial Code

The purpose of the caisses régionales de crédit agricole mutuel is : 1. to facilitate transactions carried out by members of the local mutual agricultural credit cooperatives in their area and guaranteed by these local cooperatives. However, in the event that there is no local caisse capable of examining applications, the regional caisses may, exceptionally, if they have sufficient guarantees, grant these various loans directly, in particular short-term loans to…

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Article L512-35 of the French Monetary and Financial Code

In order to carry out transactions with a regional caisse de crédit agricole mutuel, a local caisse de crédit agricole mutuel must first be authorised to do so by the central body of Crédit Agricole. It must also be duly affiliated to this regional credit union and have subscribed to at least one share of the latter’s share capital.

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Article L512-38 of the French Monetary and Financial Code

In the event that the Board of Directors of a Regional Mutual Agricultural Credit Union ceases to hold office or takes decisions contrary to legal or regulatory provisions or the instructions of the Central Body of Agricultural Credit, the Central Body of Agricultural Credit may appoint a committee to be responsible for the provisional management of the Regional Mutual Agricultural Credit Union pending the election of a new Board of…

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Article L512-39 of the French Monetary and Financial Code

The Boards of Directors of the Caisses Régionales de Crédit Agricole Mutuel have powers over the administration and management of the local mutuals affiliated to them similar to those conferred by Article L. 512-38 on the central body of Crédit Agricole over the administration and management of the local mutuals. The election by the boards of directors of the local mutual agricultural credit cooperatives of their chairman, vice-chairmen and managing…

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Article L512-40 of the French Monetary and Financial Code

The appointment of directors of the regional mutual credit banks is subject to the approval of the central body of Crédit Agricole. Such appointments may not include any commitment by the regional mutual to maintain the director in office for a fixed term. Directors may be dismissed by a decision of the Managing Director of the Central Body of Crédit Agricole, taken after consulting the Board of Directors. They are…

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