Article R221-89 of the French Monetary and Financial Code
November 6, 2023
Only the holder of the youth passbook can make withdrawals.
Only the holder of the youth passbook can make withdrawals.
Authorisation for the withdrawal referred to in the second paragraph of Article L. 221-24, as well as the objection of the legal representative referred to in the same paragraph, shall be notified to the institution or custodian by registered letter with acknowledgement of receipt.
No withdrawal may result in the account being in debit.
The rate of interest paid to the depositor is set in accordance with Article L. 611-1.
Payments bear interest from the first day of the fortnight following the deposit. They cease to accrue at the end of the fortnight preceding the day of repayment.
At 31 December each year, the interest earned is added to the capital and itself becomes interest-bearing.
If the account is closed during the year, the interest earned is credited on the day the account is closed.
Transactions carried out on youth passbooks give rise, at the choice of the depository institutions or organisations, either to an entry in a passbook with a page number, or to the issue of receipts and periodic account statements listing the transactions carried out.
No fees or commissions of any kind are charged for opening, managing or closing the Livret Jeune.
To be authorised to open youth passbooks, the establishments and organisations mentioned in article R. 221-76 must first sign an authorisation agreement with the State setting out their commitments. The competent administrative authority signs this agreement on behalf of the State. This agreement specifies, in particular, the procedures for setting up an information system to identify depositors. It also specifies the procedures for allocating the funds deposited in compliance with…
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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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