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ARTICLE 10 : CORPORATE RESOURCES AND DISTRIBUTION OF FUNDS COLLECTED

 7 hours ago

The operating costs of the company will be borne by the partners in the following way:

  • by means of a contribution, the amount of which, equal for each member, will be fixed each year according to the needs of the company, by the Ordinary General Meeting, ruling on the accounts for the financial year;
  • by means of a percentage, deducted from the sums distributed between the partners and other beneficiaries during each financial year, this percentage being set according to the procedures provided for in the General Regulations.

The rules and scales for the distribution of the funds received by the company on behalf of its shareholders - whose general terms and conditions are set by the General Regulations - are submitted for approval by the Executive Committee to the General Assembly, ruling under the majority conditions provided for by law.

The use of these are in application of the provisions of Article L 324-17 of the Intellectual Property Code It is the subject each year of a special report by the Statutory Auditor.

The Executive Committee determines the methods of application of the decisions taken by the Assembly.