Regulatory part

The bodies referred to in Article L. 771-1 of the French Rural and Maritime Fishing Code are subject to the following requirements: 1° Their object must be either exclusively insurance or exclusively reinsurance; 2° They may not carry out insurance operations other than those mentioned in 2° and 3° of article L. 310-1; 3° They guarantee, in return for payment of a fixed or variable premium, full settlement of the…

In the event of the dismissal of a general manager or the collective dismissal of the members of the board of directors of an entity in the network as referred to in III and IV of Article L. 322-27-2, the central body shall provisionally appoint the persons responsible for carrying out their duties until new incumbents are appointed and shall inform the Autorité de contrôle prudentiel et de résolution.

Pursuant to the provisions of Article L. 322-27-2, the central body is responsible in particular for : 1° Representing the entities in the network in dealings with the Autorité de contrôle prudentiel et de résolution; 2° Approving the articles of association of the entities in the network and any amendments thereto; 3° Taking any measure conducive to the development of the network, in particular by acquiring or holding strategic equity…

The number of directors of the central body referred to in Article L. 322-27-1, who are elected by the General Meeting on the recommendation of the Board of Directors in accordance with the third paragraph of that Article, shall be at least one quarter of the total number of directors of that central body, but may not exceed one third of that total. The Articles of Association of the central…

For the purposes of this section, the following are considered to be agricultural risks: risks to which natural or legal persons are exposed who exclusively or mainly carry out one of the agricultural or agriculture-related professions as defined in articles L. 722-1 to L. 722-7 of the Code rural et de la pêche maritime ; -the risks to which members of staff employed by these natural or legal persons are…

The companies or funds referred to in article L. 322-27 are subject, under the authority of the Autorité de contrôle prudentiel et de résolution, to ongoing supervision by its supervisors, exercised in collaboration with agents authorised for this purpose by the Minister of Agriculture.

In addition to undertakings carrying on direct insurance operations, including the operations referred to in Article R. 322-135, the companies or funds referred to in Article L. 322-27 whose exclusive object is reinsurance fall within the scope of this section, in particular as regards the control procedures and financial management rules. The following are excluded, notwithstanding the provisions of article R. 322-119, when the operations defined below constitute their exclusive…

Bodies falling within the scope of this Section which have been set up contrary to the laws and regulations governing their constitution shall be null and void. However, neither the sociétés ou caisses d’assurances et de réassurances mutuelles agricoles nor the members may rely on such nullity vis-à-vis third parties acting in good faith.

Undertakings falling within the scope of this section must, in accordance with the conditions set out in Articles R. 322-126 to R. 322-137, either obtain the administrative authorisation provided for in Article L. 321-1 or enter into a reinsurance treaty covering all their operations.