Article R221-69 of the French Monetary and Financial Code
November 6, 2023
The popular savings plan is opened on the date of the first payment into the account or under the insurance contract.
The popular savings plan is opened on the date of the first payment into the account or under the insurance contract.
I. – The operations authorised within the framework of the People’s Savings Plan under the Insurance Code are life insurance operations which come under classes of activity 20, 22, 23 and 26 of article R. 321-1 of this code and which include a surrender value or reduction and a guarantee in the event of life. II. – The operations authorised within the framework of the People’s Savings Plan under the…
The payments made under an insurance contract which are taken into account to assess compliance with the maximum payment limit provided for in article R. 221-68 are made up of the fraction of premiums representing the savings transaction defined by decree no. 84-269 of 11 April 1984 relating to the methods for calculating the fraction of life insurance contract premiums representing the savings transaction.
If the provisions of the second paragraph of article L. 221-18 are not complied with, the sums in all the people’s savings plans of the person who has not complied with these provisions are deemed to have been withdrawn on the date on which the people’s savings plan in excess was opened.
In the event of a payment exceeding the sum stipulated in article R. 221-68, all the sums in the people’s savings plan are deemed to have been withdrawn immediately. The same applies if, more than ten years after the popular savings plan was opened, a payment is made after a withdrawal has been made. However, this measure is not applied if the person concerned can prove that the overdraft or…
The transfer of a people’s savings plan from one management body to another does not constitute a withdrawal if the holder gives the body managing the people’s savings plan an identification certificate for the people’s savings plan to which the transfer is to be made; this certificate is issued by the body to which the people’s savings plan is transferred. In this case, the body managing the plan is required…
The operation of people’s savings schemes is subject to documentary and on-site inspections by the supervisory bodies specialising in each of the insurance sectors mentioned in I to IV of article R. 221-70.
The Livret Jeune may be opened in credit institutions approved for this purpose under the conditions set out in article R. 221-98.
When applying to open a Livret Jeune, the applicant declares on his or her honour that he or she does not already hold a Livret Jeune and that he or she meets the residence requirement set out in article L. 221-24. They must provide proof of the age requirement set out in the same article by producing any official French or foreign document or record establishing their date of birth….
When applying to open a Livret Jeune account, the applicant is informed by the institution or organisation that holds the account of the account’s operating procedures, in particular the consequences of failing to comply with the regulations. A written document containing this information is given to the applicant at the same time as the passbook.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
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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