Amendments of the articles of association
The articles of association of an insurance undertaking define its goals and govern its operation in accordance with the general framework set by the regulation.
The update of the articles of association may be subjected in some cases to prior authorization or notification. In any cases, the undertaking should send the new updated articles of association to the ACPR with date and signature.
|French “Code des Assurances”||French “Code de la Sécurité Sociale”||French “Code de la Mutualité”|
Except: Prior authorization of the ACPR in case of reduction of the equity
The following table sums up the main points expected in the articles of association, depending on the legal form of the undertaking. This table is purely indicative. It is not exhaustive and shall not be used to presuppose the analysis done by the ACPR for a specific situation of an undertaking. Undertakings shall ensure the complete compliance of their articles of association with all the applicable regulation (including when appropriate the French “Code du commerce”).
|Undertaking subject to the French “Code des Assurances”||Undertaking subject to the French “Code de la sécurité Sociale”||Undertaking subject to the French “Code de la mutualité”|
|Public Limited Company||Mutual Insurance Undertaking (SAM)|
(Denomination of the undertaking, head office, social purpose, business branches, articles of association, legal form…)
Insurance Mutual Undertaking (SMA): R.322-93 and following
|Funding (Share capital, initial funds…)|
|Repartition of surpluses|
|Minimum number of members|
|Composition of the general meeting|
L.225-122 CC and following
|Convocation to the general meeting, modalities|
L.225-103 CC and following
|Competences of the general meeting (or of the joint commission)|
L.225-96 CC and following
|Quorum requirement of the general meeting|
L.225-96 CC and following
|Composition of the board of directors or the executive board|
|Convocation and deliberation of the board of directors or the supervisory board|
|Number and age limit for some managers|
|Plurality of offices|
|Term of offices|
|Remuneration or compensation of managers|
L.225-44 CC and following
SMA: R.322-103 and following
|Possibility to join SGAM, SGAPS or UMG|
L.322-1-3 CdA for SGAM
L.931-2-2 CSS for SGAPS
L.111-4-2 CdM for UMG
The page relative to SGAM, SGAPS or UMG describes the main expectations for the articles of association of these groups.
When the undertakings send the project of the articles of association, they must point out the proposed changes, the reasons for these changes and the date when the modified articles of association are expected to be adopted.
The undertakings should send the updated articles of association once adopted with date and signature.
When the undertakings update the articles of association, they should send a copy to the ACPR with date and signature, and point out all the changes, why they have been made and the date of adoption.
Applications should be sent by post to the following address:
Secrétariat général de l’Autorité de contrôle prudentiel et de la résolution
Brigade de contrôle des organismes d’assurance n°XX
61, rue Taitbout
75436 Paris Cedex 09
A copy of the application should be send by e-mail to the division in charge of the undertaking.
The ACPR will reach its authorization decision within a maximum of two months from receipt of the completed application.
Last update : 10/03/2017
Updated on: 07/13/2017 16:23