The Caisses Régionales de Crédit Agricole Mutuel may grant bauspar loans to holders of bauspar accounts or plans, as well as subsidised loans under the conditions set out in Section 3 of Title III of Book III of the Code de la Construction et de l’Habitation.
One of the copies of the articles of association and the list of members of the caisse de crédit agricole mutuel is filed with the clerk of the judicial court. Each year, before 1st June, a director or the manager of the caisse shall file, in duplicate, at the clerk’s office of the judicial court within whose jurisdiction the registered office of the caisse is located, a copy of the…
The articles of association of the caisses de crédit agricole mutuel must expressly state the rules mentioned in the third paragraph of article L. 512-23 and in articles L. 512-31, L. 512-41 and R. 512-9.
A discount committee is set up at the local mutual banks and regional mutual banks. This committee, made up of at least two members, including a director specially delegated for this purpose, is responsible for examining loan applications. The committee’s decisions are recorded in a special register.
Directors receive a fixed salary approved by the central body of Crédit Agricole, excluding any percentage of profits or operations. Exceptional bonuses may be granted each year by the Board of Directors, subject to approval by Crédit Agricole’s central body.
Each year, after deducting charges and general expenses, paying interest on loans and deposits, setting aside reserves for the depreciation of fixed assets, setting aside sufficient provisions to meet the risks of losses that the caisses de crédit agricole mutuel may have to bear, and paying interest on shares in the share capital, at least three-quarters of the surplus income is allocated to setting up a reserve fund. The balance…
Deposits of funds with a maximum maturity of two years received by the regional or local mutual agricultural credit banks benefiting from advances from the central body of Crédit Agricole must be used exclusively for short-term credit transactions. Caisses de crédit agricole mutuel that fail to comply with this requirement may not receive new advances from the central body of Crédit Agricole for medium-term loans or individual and group long-term…
Bonds issued by the Caisses de Crédit Agricole Mutuel with a maximum maturity of two years must be used in short-term credit transactions in accordance with the provisions of the first and second paragraphs of article R. 512-12. Bonds maturing in more than two years may be used in accordance with the provisions of the third paragraph of article R. 512-12.
Advances and loans to the regional branches of the central body of Crédit Agricole become immediately repayable in the event of a breach of the Articles of Association or amendments to the Articles of Association that would reduce the guarantees of repayment. They may become due and payable in the event of malfeasance on the part of the directors and managers of companies that have received advances or loans.
Advances and loans to the Regional Banks also become due and payable if repayments are not made within three months, except in exceptional circumstances approved in each case by the Board of Directors of the central body of Crédit Agricole. For the duration of the delay, repayments due and not made bear interest in favour of the Central Body of Crédit Agricole at a rate set at 5% per annum….
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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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