OK, ArtFoundation

Manner of representation

In the case of a one-person management board, the foundation is represented by the President independently. In the case of a multi-member management board: a) declarations of will in property matters exceeding PLN 10,000 are made independently by the President or by the Vice-President together with a member of the management board, acting jointly; b) declarations of will on behalf of the foundation, including those concerning property obligations up to PLN 10,000, may be made independently by the President, the Vice-President or a member of the management board; c) the President, the Vice-President and a member of the management board may independently perform activities in the field of labour law and represent the foundation in employee matters; d) the management board may, by resolution, authorise a member of the management board to perform specified activities on behalf of the foundation, within the scope indicated in the resolution, subject to the representation rules specified above.