French Insurance Code
In forceI. - More than half of the Board of Directors of associations which underwrite group life assurance or capitalisation contracts, where the relationship between the member and the policyholder does not make membership of the contract compulsory, is made up of members who do not hold or have not held, over the two years preceding their appointment, any interest or mandate in the insurance undertaking which has signed the group insurance contract, and who do not receive or have not received, over the same period, any remuneration from the same undertaking.
Subscribers to these contracts are ex officio members of the subscribing association; they have voting rights at the General Meeting and may propose resolutions to the General Meeting.
The General Meeting has sole authority to authorise changes to the essential provisions of the group insurance contract taken out by the association.
A Conseil d'Etat decree specifies the rights of members at general meetings of these associations.
II. - I does not apply to the supplementary pension scheme set up by the Caisse nationale de prévoyance de la fonction publique.
III. - I does not apply to the group insurance agreement for the implementation of the supplementary pension scheme for hospital employees, signed by the Comité de Gestion des Oeuvres Sociales des Établissements Hospitaliers Publices. Members of this agreement are informed individually, at least thirty days before the date set for the general meeting, of the agenda. They will receive a record of the decisions taken by the General Meeting and may, on request, obtain the minutes of the meeting.
IV - The General Meeting adopts rules of professional conduct designed to prevent and resolve conflicts of interest, in accordance with conditions specified by decree in the Conseil d'Etat.
