French Insurance Code
In forceI.-When, at the request of the Autorité de contrôle prudentiel et de résolution, the Enforcement Committee or the resolution college of this authority, the liquidation of an undertaking mentioned in article L. 310-1 is opened, each policyholder is notified, within twenty days of the day following the publication of the Autorité's decision in the Journal officiel de la République française, by the liquidator or, pending the appointment of the liquidator, by the person who had general management powers in the undertaking or by his representative.
In the event of the dissolution of a company referred to in Article L. 310-1, under the conditions provided for in Article L. 326-2, the twenty-day period referred to in the previous paragraph shall run from the day after publication of the decision referred to in the second paragraph of Article L. 326-2.
This notice, which sets out the applicable legislation, is sent by registered post to the last known address of the policyholder.
If the policyholder is not the insured or the beneficiary of the contract, the information is also sent to the known insured or beneficiaries.
This notice sets out the provisions of articles L. 326-1, L. 326-2 and L. 326-4. It indicates, where applicable, the authority to which policyholders, insured persons, members and beneficiaries of contracts may submit their observations relating to claims and specifies, where applicable, the time limits for doing so and the consequences of failure to comply with the time limits.
Individual notices must be prepared under the responsibility of the company's directors or, in the case of a foreign company, under the responsibility of the authorised agent provided for in article L. 329-1, as soon as an injunction to do so is issued by the aforementioned authority.
When the known insurance creditor has his habitual residence, domicile or registered office in a Member State of the European Union or a party to the Agreement on the European Economic Area other than France, the notice is also drawn up in the official language or one of the official languages of that State.
II - Where the decision referred to in articles L. 326-1 or L. 326-2 concerns an undertaking referred to in 2° and 3° of article L. 310-1, the notice referred to in I reproduces the first paragraph of article L. 326-12 and specifies the date on which the contract taken out will cease to have effect.
III - Where the decision referred to in Articles L. 326-1 or L. 326-2 concerns an undertaking referred to in 1° of Article L. 310-1, the notice referred to in I reproduces the text of Articles L. 326-9 and L. 326-13.
Where applicable, each policyholder, insured or known beneficiary is informed, under the same conditions, of the decisions taken by the Autorité de Contrôle pursuant to the second paragraph of Article L. 326-13. Where the decision of the Autorité has the effect of fixing the date on which the contracts cease to have effect, this information is provided no later than twenty days before the date on which the contract ceases to have effect.
