Section I: Assets backing regulated commitments.

Articles in this section · 4

A332-1A332-2A332-3A332-4

Article A332-1

French Insurance CodeIn force
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Updated 7 Nov 2023

I.-The guarantee or equivalent undertaking referred to in the third paragraph of article R. 332-17 must :

-be governed by French law and, in the event of a dispute, be subject to the exclusive jurisdiction of the French courts;

-constitute an irrevocable and unconditional first demand guarantee.

II - The guarantor credit institution referred to in the third paragraph of article R. 332-17 must meet the following conditions:

1° The guarantor must be a credit institution authorised to operate in France pursuant to Act no. 84-46 of 24 January 1984 , as amended, relating to the activity and control of credit institutions, and must comply with all applicable laws and regulations in respect of the proposed guarantee;

2° The guarantor is not an undertaking related to the reinsurer or the guaranteed insurance undertaking, within the meaning of Article 310-5 of Regulation 2015-11 of 26 November 2015 of the Autorité des normes comptables relating to the accounting framework for insurance undertakings.

III-The waiver referred to in the third paragraph of Article R. 332-17 may only be granted insofar as, in the opinion of the Autorité de contrôle prudentiel et de résolution, it does not diminish the quality of the representation of the regulated commitments, and in particular within the limits set below:

-the duration, initially set by the Autorité de contrôle prudentiel et de résolution, may not exceed one financial year, which may be renewable under the conditions defined by the Autorité ;

-the total amount of guarantees accepted under the said waiver may not at any time exceed :

-the maximum amount set by the Autorité de contrôle prudentiel et de résolution ;

one half of the total amount of regulated commitments as defined in article R. 331-1 of this code; - two thirds of the total amount of regulated commitments as defined in article R. 331-1 of this code;

two-thirds of the total amount of reinsurers' share of technical provisions.

IV -The derogation may be withdrawn at any time by the AMF if it considers that the conditions justifying it are no longer met.

Mariela Petrova

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Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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