Section 6b: SME Innovation Account

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L221-32-4L221-32-5L221-32-6L221-32-7

Article L221-32-6

French Monetary and Financial CodeIn force
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Updated 8 Nov 2023

I. - Cash withdrawals may be made from the cash account associated with the SME Innovation Account defined in article L. 221-32-4.

II. - In the event of the liquidation of a company whose shares are held in the securities account associated with the SME Innovation Account, the sums allocated to the holder of this account in respect of the cancellation of the said securities which are not included in the tax base pursuant toarticle 161 of the General Tax Code and which are not paid into the cash account of the same account constitute a cash withdrawal up to their amount.

III. - Withdrawal of shares from the SME Innovation account securities account may be made without closing the account.

IV. - Failure to comply with one of the conditions stipulated in article L. 221-32-5 or failure to use the sums held in the cash account of the innovation SME account within the period stipulated in III of the same article L. 221-32-5 shall result in the closure of the innovation SME account.

V. - The holder of an SME Innovation account may decide to close it at any time.

VI. - The death of the account holder results in the closure of the PME innovation account.

Mariela Petrova

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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.

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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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