Fundacja Centrala MłodychFoundation

Manner of representation

1. In the case of a one-person management board, the foundation may be represented by a member of the management board independently. 2. In the case of a multi-member management board: A) to make a declaration of will on behalf of the foundation, including in property matters, except for the exceptions listed in § 21 section 2 letters B) and C), two members of the management board acting jointly are authorised; B) when settling the foundation’s liabilities of less than PLN 5,000, any member of the management board may make a declaration of will on behalf of the foundation independently; C) in the case of concluding an agreement between the foundation and a member of its management board, another member of the management board is authorised to sign such agreement on behalf of the foundation independently, and in the case of a one-person management board, any member of the Foundation Council.