Fundacja StrukturaFoundation

Manner of representation

In the case of a one-person management board, the President of the Management Board is authorized to make declarations of will and incur obligations on behalf of the foundation, subject to section 3. 1. In the case of a multi-member management board, each member of the management board acting independently is authorized to make declarations of will and incur obligations on behalf of the foundation, subject to section 3. 2. A legal act of disposition of a right or obligating the foundation to render a performance, the value of which exceeds PLN 20,000 (twenty thousand złotych), carried out by the management board requires the consent of the other members of the foundation's management board. 3. The above limitation (up to PLN 20,000) also applies to incurring periodic/cyclical obligations which will result in an obligation exceeding PLN 20,000 arising within 12 months.