Fundacja Rozwoju Sportu i Rekreacji Sports ActivityFoundation

Manner of representation

Each member of the management board acting independently is authorized to represent the foundation. Members of the management board make declarations of will on behalf of the foundation individually. In the case of a multi-member management board, incurring liabilities exceeding PLN 20,000.00 (twenty thousand złoty) and disposing of the foundation's assets with a market value (according to the status as at the date of disposal) exceeding PLN 20,000.00, as well as encumbering the foundation's assets with a value exceeding PLN 20,000.00, require the joint action of two members of the management board, including the President of the management board.