Subsection 3: Financial provisions and control of foundations

Articles in this section · 3

Article R6141-63

French Public Health CodeIn force

Updated 31 Oct 2023

The Foundation's internal rules may only come into force if the Director General of the Regional Health Agency does not object within a period of one month. They shall be amended under the same conditions.

The statement of projected income and expenditure and any amending statements voted by the Board of Directors are submitted to the Director General of the Regional Health Agency for approval. If the Director General remains silent for two months, this constitutes approval. The annual accounts are sent to the Director General of the Regional Health Agency once they have been adopted by the Board of Directors.

With the exception of operations relating to the day-to-day management of the funds making up the foundation, the decisions of the Board of Directors relating to the disposal of movable and immovable property making up the endowment are valid only if the Director General of the Regional Health Agency does not object within a period of one month. The same applies to decisions taken by the Board concerning the creation of mortgages or loans.

Acceptance of gifts and bequests by the Board of Directors takes effect under the conditions set out inarticle 910 of the Civil Code.

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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