French Insurance Code

I.-The units of account referred to in article L. 131-1 are : 1° The assets listed in 1°, 2°, 2° bis, 2° ter, 3°, 4°, 5° and 8° of article R. 332-2 ; 2° Under the conditions set out in articles R. 131-2 to R. 131-4, the units or shares referred to in 9° bis of article R. 332-2; 3° The shares referred to in 7° of article R. 332-2…

The units of account defined in article L. 131-1-1 are: 1° Units or shares in general-purpose professional funds mentioned inarticle L. 214-144 of the Monetary and Financial Code ; 2° Units or shares in professional private equity funds mentioned inarticle L. 214-159 of the Monetary and Financial Code ; 3° Units or shares in specialised professional funds referred to inarticle L. 214-154 of the Monetary and Financial Code, provided that…

The selection of the units of account mentioned in article R. 131-1-1 is reserved for: 1° Subscribers or members considered, after evaluation, to have the experience, knowledge and skills necessary to make their own investment decisions and correctly assess the risks involved; 2° Subscribers or members who allocate a premium of at least 100,000 euros to the acquisition of rights expressed in these units of account; 3° Or, where the…

In order to select a unit of account mentioned in article R. 131-1-1 pursuant to 1° of article R. 131-1-2, the subscriber shall follow the procedure below: 1° The policyholder or member notifies the intermediary or the insurance or capitalisation undertaking, on paper or any other durable medium, of their wish to be treated as a client with the experience, knowledge and skills necessary to understand the risks they incur…

Prior to the selection of units of account by the policyholder or subscriber pursuant to 1° of Article R. 131-1-2, the insurance undertaking or intermediary shall carry out an appropriate assessment of its competence, experience and knowledge, such as to provide it with reasonable assurance that the policyholder or subscriber is in a position to make investment decisions and understand the risks involved in selecting units of account composed of…

Where the contract refers to a unit or share in an unlisted property company mentioned in 2° of article R. 131-1, the insurer shall determine the value of this unit or share, in accordance with the procedures specified by order of the Minister for the Economy and Finance, prior to marketing the contract and thereafter at least once a year for the duration of the contract.