Fundacja Teleopieka PlusFoundation

Manner of representation

1. Declarations of will on behalf of the foundation shall be made: A) in a one-person management board, by the President of the foundation, B) in a two-person management board, by the President of the foundation independently; by the member of the management board independently, C) in a multi-member management board, by the President of the foundation independently; by two other members of the management board acting jointly. 2. For making declarations of will on behalf of the foundation resulting in: A) the disposal of a right or the incurring of an obligation to provide a performance with a value of up to PLN 20,000.00, each member of the management board acting independently shall be authorised, B) the disposal of a right or the incurring of an obligation to provide a performance with a value exceeding PLN 20,000.00, joint action of two members of the management board acting jointly, including the President of the foundation, shall be required, 3. For making declarations of will on behalf of the foundation resulting in a gratuitous increase of the foundation’s assets, each member of the management board acting independently shall be authorised, regardless of the value of such increase.