Fundacja Live ArtFoundation

Manner of representation

1. Declarations of will on behalf of the foundation, subject to sections 2 and 3, are made by two members of the management board acting jointly, including the President or treasurer. 2. In matters concerning incurring property liabilities up to PLN 2,000.00, including the employment of employees and the implementation of individual foundation programmes, declarations of will on behalf of the foundation may be made independently by the President of the foundation. 3. In matters related to incurring property liabilities exceeding PLN 100,000.00, declarations of will on behalf of the foundation are made by at least three members of the management board acting jointly, including the President or treasurer. 4. The foundation’s management board may designate one person to represent the foundation in a specific task. This person does not have the capacity to incur financial liabilities on behalf of the foundation.