Article L213-20 of the French Monetary and Financial Code
Associations registered in the Trade and Companies Register under the conditions set out in this sub-section may form a group to issue bonds. The grouping is carried out within the framework of an economic interest grouping under the conditions set out in the second paragraph of article L. 251-7 of the French Commercial Code. Economic interest groupings formed by associations with a view to issuing bonds are required to redeem…