The provisions of articles L. 242-2, L. 242-6 (2° to 4°), L. 242-8, L. 242-25 and L. 242-28 of the French Commercial Code are applicable to insurance undertakings, even where they are not automatically subject to these provisions. The foregoing provisions apply to reinsurance undertakings.
Articles L. 626-2 to L. 626-5, L. 626-12 and L. 626-16 to L. 626-19 of the French Commercial Code are applicable to any person with direct or indirect authority to bind an insurance undertaking, including in particular the authorised agent of a foreign insurance undertaking established in the territory of the French Republic, even where they are not automatically subject to them.
Any breach of the provisions of 7° of I of article L. 311-30 and of articles L. 322-1, L. 322-2-2 and L. 322-4 of this Code, as well as of 7° of I of article L. 612-33 of the Monetary and Financial Code, is punishable by the penalties set out in article L. 310-26.
In the event of liquidation carried out under the conditions provided for in Article L. 326-1, the following provisions shall apply: 1° If the financial situation of the company dissolved following the total withdrawal of administrative approval shows a shortfall in assets compared with the liabilities to be settled during the liquidation, the court may, in the event of mismanagement having contributed to this shortfall in assets, decide at the…
The undertakings referred to in 4° of I of Article L. 310-2 may not carry on the operations referred to in Article L. 310-1 in the territory of the French Republic unless they have obtained administrative authorisation for their branch, issued in accordance with the provisions of Article L. 321-1 and Article L. 321-10, and special authorisation to accept a general agent. These approvals are granted by the Autorité de…
Where an undertaking referred to in 4° of I of Article L. 310-2 has branches established in more than one Member State, each branch is treated independently for the purposes of applying the provisions relating to reorganisation and winding-up measures.
Branches of foreign companies established in the territory of the French Republic referred to in 4° of I of article L. 310-2 appoint one or more statutory auditors. The statutory auditors shall certify the annual accounts of the branches in accordance with the conditions set out in the first paragraph of article L. 823-9 of the Commercial Code.
A decree in the Conseil d’Etat shall specify the conditions of application of this chapter.
The provisions of this Title apply to insurance undertakings not covered by the Solvency II regime, as referred to in Article L. 310-3-2. They do not apply to the undertakings referred to in Article L. 310-3-1 or to the undertakings referred to in 2° and 3° of the first paragraph of Article L. 310-1, which are reinsured by an agreement involving the substitution of the ceding undertaking for the performance…
The undertakings referred to in Article L. 310-3-2 must at all times comply with a solvency margin calculated in accordance with the procedures defined by decree of the Conseil d’Etat. The Autorité de contrôle prudentiel et de résolution may require the undertaking to provide an additional solvency margin to enable it to meet all the solvency requirements rapidly. The level of this additional solvency margin requirement is determined in accordance…
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is a Registered Trademark of
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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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