Paragraph 2: Governance

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Article L224-36

French Monetary and Financial CodeIn force

Updated 8 Nov 2023

The Supervisory Committee may at any time ask the statutory auditors and the directors of the insurance undertaking for any information on the financial situation and actuarial balance of the auxiliary allocation accounts referred to inarticle L. 142-4 of the Insurance Code. The statutory auditors are then released from their obligation of professional secrecy. The Supervisory Committee shall arrange for any expert reports necessary for its work and may, to this end, appoint an independent expert to carry out any documentary or on-site checks on the administrative, technical and financial management of the plan.

Each year, the insurance undertaking shall inform the Supervisory Committee of the amount of the technical and financial profit-sharing and consult it on the terms and conditions for its distribution among the plan members.

The members of the Supervisory Committee are bound by professional secrecy with regard to information of a confidential nature and given as such by experts and persons consulted by the Supervisory Committee under the conditions and subject to the penalties set out in Articles 226-13 and 226-14 of the French Penal Code. Experts and persons consulted by the Supervisory Board are bound by professional secrecy under the same conditions and subject to the same penalties.

Mariela Petrova

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Common Questions

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

English · French · Russian

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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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