Fundacja Arima Nasz ŚląskFoundation

Manner of representation

1. Agreements and other obligations of the foundation may be signed by the President of the Management Board independently or by two members of the management board acting jointly. 2. In the case of a one-person management board, the President of the Management Board may make declarations of will on behalf of the foundation, including in property matters, up to the amount of PLN 1,000,000.00 (one million zlotys) independently. In the case of property obligations exceeding PLN 1,000,000.00 (one million zlotys), the President of the Management Board must notify the foundation council in writing. 3. In the case of a multi-member management board, each member of the management board may make declarations of will on behalf of the foundation, including in property matters, up to the amount of PLN 1,000,000.00 (one million zlotys) independently. In the case of property obligations exceeding PLN 1,000,000.00 (one million), the signatures of two members of the management board and simultaneous written notification of the foundation council are required.