Ogród WdzięcznościFoundation

Manner of representation

§27 1. In the case of a one-person management board, the President of the Management Board is authorised to make declarations of will and incur obligations on behalf of the foundation, subject to para. 3. 2. In the case of a multi-member management board, each member of the management board acting independently is authorised to make declarations of will and incur obligations on behalf of the foundation, subject to para. 3. 3. A legal act disposing of a right or creating an obligation to perform, whose value exceeds PLN 10,000.00 (ten thousand zlotys), requires a declaration of will by: a) a one-person management board – the President of the Management Board; b) a multi-member management board – at least 2 members of the foundation’s management board acting jointly. 4. The above limitation (to PLN 10,000.00) also applies to incurring periodic/cyclical obligations which, within 12 months, will result in an obligation exceeding PLN 10,000.00. §28 1. By resolution, the foundation’s management board may appoint attorneys-in-fact or commercial proxies acting on behalf of the foundation, specifying the scope of their authority. 2. The appointment of attorneys-in-fact or commercial proxies requires the consent of the foundation council.