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Article L4424-28-1 of the French General Code of Local Authorities

The Corsican regional authority may participate, through the payment of grants, in the constitution of a guarantee fund with a credit institution or finance company whose exclusive purpose is to guarantee financial assistance granted to companies.

The Corsican regional authority will enter into an agreement with the company managing the fund, setting out, in particular, the purpose, amount and operation of the guarantee fund, the procedures for informing the regional authority by the company, as well as the conditions for returning the allocations paid in the event that the fund is modified or ceases activity.

Original in French 🇫🇷
Article L4424-28-1

La collectivité territoriale de Corse peut participer, par versement de dotations, à la constitution d’un fonds de garantie auprès d’un établissement de crédit ou d’une société de financement ayant pour objet exclusif de garantir des concours financiers accordés à des entreprises.

La collectivité territoriale de Corse passe avec la société gestionnaire du fonds une convention déterminant notamment, l’objet, le montant et le fonctionnement du fonds de garantie, les modalités d’information de la collectivité territoriale par la société ainsi que les conditions de restitution des dotations versées en cas de modification ou de cessation d’activité de ce fonds.

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