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Article R322-43 of the French Insurance Code

The surplus income of mutual insurance companies operating in one or more of the classes mentioned in 1 to 18 of Article R. 321-1 is distributed among the members in accordance with the conditions laid down in the articles of association, subject to the provisions of the first paragraph of Article R. 322-73.

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Article R322-44 of the French Insurance Code

Subject to the provisions of articles R. 322-99 and R. 322-158, mutual insurance companies must have a formation fund of at least : -400,000 euros for the operations referred to in Articles 10 to 15, 20, 21, 22, 24 and 25 of Article R. 321-1 and for reinsurance operations; -240,000 for operations in classes other than those listed above.

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Article R322-45 of the French Insurance Code

Mutual insurance companies governed by this section must include in their articles of association and in all contractual or advertising documents relating to insurance or capitalisation the following words printed in uniform characters: “Société d’assurance mutuelle”, or, for the bodies referred to in Article L. 771-1 du code rural et de la pêche maritime: “Caisse d’assurance mutuelle agricole” or “Caisse de réassurance mutuelle agricole” supplemented, where appropriate, by the words:…

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Article R322-47 of the French Insurance Code

Draft articles of association must 1° state the object, duration, registered office and name of the company and the territorial scope of its operations, determine the method and general conditions under which the commitments between the company and its members are entered into, and specify the classes of insurance covered directly or accepted as reinsurance; 2° Set the minimum number of members, which may not be less than 500; this…

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Article R322-49 of the French Insurance Code

The draft Articles of Association may provide for the creation of an additional corporate fund intended to provide the company with the solvency it needs to comply with current regulations. This fund is funded by loans taken out to finance a business improvement plan or a medium or long-term development plan. Member-policyholders may be required to subscribe to loans under the conditions set out in article R. 322-80-1.

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Article R*322-51 of the French Insurance Code

When the conditions set out in articles R. 322-47 to R. 322-50 have been met, the signatories of the original deed or their authorised representatives shall declare this before a notary. This declaration must be accompanied by 1° A duly certified list of the names of the members, showing their surnames, forenames, positions and domiciles, and, if applicable, the names and registered offices of the member companies, the amount of…

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Article R322-52 of the French Insurance Code

The first General Meeting, which is convened at the request of the signatories of the initial deed, verifies the accuracy of the declaration referred to in article R. 322-51 and appoints the members of the first Board of Directors or the first Supervisory Board and, for the first year, the statutory auditors provided for in article R. 322-67. The minutes of the meeting record the acceptance of the members of…

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