French Insurance Code
In forceI. - The association's articles of association contain at least the following clauses:
The purpose of the association, as a popular retirement savings group, is to subscribe one or more popular retirement savings plans on behalf of members and to ensure the representation of members' interests and, to these ends:
1° To set up a supervisory committee for each plan subscribed, subject to the case mentioned in the first paragraph of article R. 144-13 ;
2° Organising consultations with members;
3° Providing secretarial services and financing for each supervisory committee and the general meeting of members.
The association is required to implement the decisions, including those to institute legal proceedings, taken, pursuant to the provisions of II, VIII, IX and XII of article L. 144-2 and articles R. 144-8 and R. 144-14, by the general meeting of members of the plans and by the supervisory committees of the said plans.
Any member of a popular retirement savings plan subscribed by the association is automatically a member of the association and has the right to vote at the general meeting.
II - The association's articles of association also stipulate :
1° The conditions for awarding any remuneration to members of the association's Board of Directors and Executive Committee;
2° The procedures for dissolution of the association by decision of the general meeting of its members;
3° The procedures for closing a popular retirement savings plan;
4° The minimum period between the date of receipt by the Board of Directors, under the conditions provided for in article R. 141-5, of a proposed resolution from members and the date of the vote on this resolution by the General Meeting.
III - Within six months of concluding a first popular retirement savings plan, the association must send the Autorité de Contrôle Prudentiel et de Résolution (ACPR) a copy of the publication in the Journal Officiel of the declaration referred to in article 5 of the law of 1 July 1901 relating to the contract of association, together with a copy of its articles of association and, if the ACPR so requests, a copy of its internal regulations, so that it can be entered in the register kept by the ACPR.
Within two months of receiving these documents, the Autorité de contrôle prudentiel et de résolution will send the association its registration number in the register referred to in the first paragraph. This number must appear on the contractual documents relating to the plans subscribed by the association within six months of the date of notification.
The Autorité de contrôle prudentiel et de résolution must be notified of any changes to the articles of association, the dissolution of the association or its cessation of activity as a popular pension savings group within thirty days of the date of approval by the Extraordinary General Meeting.
The Autorité is notified within thirty days of any new plan or plan closure.
