Fundacja Lege ArtisFoundation

Manner of representation

- Declarations of will on behalf of the foundation in all matters except property matters may be made by each member of the management board independently. - In property matters, declarations of will are made by two members of the management board jointly. - With respect to dispositive property transactions whose value exceeds PLN 5,000.00 (five thousand zlotys), the management board is obliged to inform the founders electronically two days before undertaking such transaction. - In the case of property transactions whose value exceeds PLN 10,000.00 (ten thousand zlotys), the management board is obliged to obtain the founders’ consent electronically or in writing two days before undertaking such transaction.