Paragraph 1: General provisions.

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L322-27L322-27-1L322-27-2

Article L322-27-2

French Insurance CodeIn force
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Updated 8 Nov 2023

I. - The central body is responsible for ensuring the cohesion and smooth running of the network. It exercises administrative, technical and financial control over the organisation and management of the Network's bodies. It sets the strategic guidelines for the network, issues all necessary instructions and ensures that they are effectively implemented. It also takes all necessary measures to guarantee the solvency and compliance with the commitments of each of the entities in the network and of the group as a whole.

II - The appointment of the Chief Executive Officers of the entities in the network is subject to the approval of the central body.

III - Without prejudice to the powers of its Board of Directors, in the event that a member of the network takes decisions which do not comply with the legislative or regulatory provisions relating to insurance and reinsurance companies or with the instructions given by the central body, the latter may dismiss the general manager of the member in question. The central body may also, on the same grounds, collectively dismiss the members of the board of directors of that undertaking.

IV - Without prejudice to the provisions of III, in the event that a body with local competence within the network takes decisions which undermine the cohesion and smooth operation of the network, the agricultural mutual insurance or reinsurance company or fund with which it is reinsured may, after consulting the central body, collectively dismiss the members of its board of directors.

V. - A decree of the Conseil d'Etat shall specify the terms and conditions for the application of this article, in particular the conditions for the performance of the central body's duties.

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

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