Article 5
Codified version
Member States shall lay down detailed rules for the organisation, financing and operation of the guarantee institutions, complying with the following principles in particular: the assets of the institutions must be independent of the employers’ operating capital and be inaccessible to proceedings for insolvency; employers must contribute to financing, unless it is fully covered by the public authorities; the institutions’ liabilities must not depend on whether or not obligations to contribute to financing have been fulfilled.
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Source: EUR-Lex (Cellar) · retrieved 2026-11-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.