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Article L214-123 of the French Monetary and Financial Code

At least 15% of the maximum capital of forest savings companies, as set out in their articles of association, must be subscribed by the public within two years of the opening date of the subscription.

If this obligation is not met, the company is dissolved and the members are reimbursed for the amount of their subscription.

Original in French 🇫🇷
Article L214-123

A concurrence de 15 % au moins, le capital maximal des sociétés d’épargne forestière, tel qu’il est fixé par leurs statuts, doit être souscrit par le public dans un délai de deux ans après la date d’ouverture de la souscription.

S’il n’est pas satisfait à cette obligation, la société est dissoute et les associés sont remboursés du montant de leur souscription.

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