Article L512-84 of the French Monetary and Financial Code
November 7, 2023
A decree of the Conseil d’Etat shall determine the conditions of application of this section, as necessary.
A decree of the Conseil d’Etat shall determine the conditions of application of this section, as necessary.
The Caisses d’Epargne network participates in the implementation of the principles of solidarity and the fight against exclusion. In particular, its purpose is to promote and collect savings and to develop provident savings, particularly to meet collective and family needs. It contributes to the protection of popular savings, the financing of social housing, the improvement of local and regional economic development and the fight against banking and financial exclusion of…
The savings bank network comprises the savings and provident institutions, the local savings companies, the Fédération nationale des caisses d’épargne et de prévoyance and the société de participations du réseau des caisses d’épargne.
In order to guarantee the liquidity and solvency of the savings bank network, the central body of the savings banks and banques populaires referred to in Article L. 512-106 has at its disposal the common guarantee and solidarity fund of the savings bank network, which, in the event of use, it may decide to replenish by calling on the savings banks to make the necessary contributions.
Subject to the provisions of this section, the savings and provident institutions are cooperative societies, subject to the provisions of law no. 47-1775 of 10 September 1947 on the status of the cooperative society and of book II of the French Commercial Code.
The caisses d’épargne et de prévoyance are credit institutions and may, notwithstanding the provisions of article 3 of law no. 47-1775 of 10 September 1947 on the status of cooperation, carry out all banking transactions.
The shares of the savings and provident institutions may only be held by the local savings companies. The Articles of Association of the savings and provident institutions and of the local savings companies provide that, in the event of a bank resolution or court-ordered liquidation of a savings and provident institution, the net proceeds of share subscriptions available on the members’ current accounts held by the local savings companies are…
The Caisses d’Epargne et de Prévoyance are managed by an Executive Board under the supervision of a Supervisory Board. The latter is known as the Guidance and Supervisory Board. The Guidance and Supervisory Board has seventeen members. It comprises, in accordance with the conditions laid down in the Articles of Association: 1. Members elected directly by the employee members of the Caisse d’Epargne et de Prévoyance; 2. Members directly elected…
The local savings companies are cooperative companies, subject to the provisions of law no. 47-1775 of 10 September 1947 on the status of cooperation, subject to the provisions of this section. They contribute to the development of the general policies of the savings and provident institution to which they are affiliated. Their purpose is also, within the framework of these general guidelines, to encourage the widest possible ownership of the…
The following may be members of a local savings company: public inter-municipal cooperation bodies with their own tax status and, under the conditions set out in the Articles of Association, natural persons or legal entities that have entered into one of the transactions provided for in Articles L. 311-1, L. 311-2, L. 511-2 and L. 511-3, the employees of this savings and provident institution, the local authorities and, under the…
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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