Fundacja Akademia BiznesuFoundation

Manner of representation

Declarations of will on behalf of the foundation in all matters except property matters may be made by each member of the management board independently. In matters not exceeding PLN 25,000 (twenty-five thousand), declarations of will on behalf of the foundation may be made by each member independently. In matters with a value exceeding PLN 25,000 (twenty-five thousand), a decision on the joint action of at least two members of the management board is required, and if the management board were a one-person management board, a member of the management board may make such a declaration of will after first obtaining the consent of the Founders’ Council expressed by resolution adopted by a simple majority of votes.