Fundacja AgrarnaFoundation

Manner of representation

In the case of a one-person management board, the sole member of the management board represents the foundation independently. In the case of a two-member management board, each member of the management board has the right to represent the foundation individually vis-à-vis third parties and to make declarations of will individually on behalf of the foundation in the scope of the foundation’s current affairs whose value does not exceed PLN 50,000 (in words: fifty thousand) złoty, whereas representation of the foundation and making declarations of will concerning the foundation’s rights and obligations whose value exceeds PLN 50,000 (in words: fifty thousand) złoty require the joint representation of two members of the management board.