Section III: Own funds

Articles in this section · 11

Article R351-25

French Insurance CodeIn force

Updated 7 Nov 2023

Without prejudice to Article R. 351-24, the following classifications are applied for the purposes of this section:

1° The surplus funds referred to in Article R. 351-21 are classified in level 1 ;

2° Letters of credit and guarantees held in trust by an independent trustee for the benefit of insurance creditors and provided by credit institutions are classified in level 2;

3° Any future claims that mutual insurers or unions governed by Book II of the Mutual Code or variable-contribution mutual insurance companies of shipowners, which insure only risks classified under classes 6, 12 and 17 mentioned in Article R. 321-1 or under class 17 mentioned in Article R. 211-2 of the Mutual Code, may have on their members by way of contribution reminders during the next twelve months, are classified in level 2.

In accordance with the second paragraph of II of Article R. 351-23, any future claim that variable-contribution mutual insurers or unions governed by Book II of the Mutual Code or variable-contribution mutual insurance companies may hold on their members by way of a reminder of contributions during the next twelve months and which is not covered by 3°, is classified in level 2 when it in fact presents the characteristics mentioned in a and b of I of Article R. 351-22, taking into account the factors mentioned in II of this article.

Mariela Petrova

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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

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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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