Regardless of the legalities, extreme events can lead to illegal acts, and I wouldn't want anything of mine in SocGen's hands once the SHTF. Remeber the story about the looted BCCI safe deposit boxes posted a couple of nights ago by another poster - if true, that's a scary example of having faith in a legal structure that still went wrong.
Personally, I'd still switch out. I closed my Soc Gen account several years ago - they're a good bank, but forthcoming events might be beyond even them to police.