Fundacja Pro Active PolandFoundation

Manner of representation

1. The foundation may be represented externally by each member of the management board independently. 2. In property matters, in the case of a one-person management board, the President of the Management Board signs. In the case of a multi-member management board: a) declarations on behalf of the foundation consisting in disposing of a right or incurring obligations to provide a performance with a value of PLN 10,000 (ten thousand zlotys) or less require the action of one member of the management board; b) declarations on behalf of the foundation consisting in disposing of a right or incurring obligations to provide a performance with a value exceeding PLN 10,000 (ten thousand zlotys) require the joint action of two members of the management board. In the case of a one-person management board, the obligation is incurred by the President of the Management Board; c) declarations on behalf of the foundation not consisting in disposing of a right or incurring obligations to provide a performance require the action of one member of the management board.