Stowarzyszenie Tulce i Gowarzewo RazemAssociation

Manner of representation

For the validity of declarations of will concerning the property rights and obligations on behalf of the association, each member of the management board is authorised. Contracts and transactions with a value exceeding PLN 5,000 (in words: five thousand) require the joint action of two members of the management board or of one member of the management board with written authorisation from another member of the management board. Contracts and transactions with a value exceeding PLN 120,000 (in words: one hundred and twenty thousand) require the joint action of two members of the management board and a resolution of the Audit Committee. For making declarations of will in all matters of the association other than property matters, each member of the management board is authorised to act independently.