Fundacja Instytut Badań nad Stosowaniem PrawaFoundation

Manner of representation

1. Members of the management board may independently make declarations of will on behalf of the foundation. 2. For performing legal acts on behalf of the foundation related to incurring financial obligations and disposing of the foundation’s funds exceeding 100,000 złoty (one hundred thousand złoty), a declaration of will must be made by two members of the foundation’s management board acting jointly, except as provided in section 3 of this paragraph. 3. In matters concerning relations between the foundation and the founder, including all financial matters between these entities, and in disputes between the foundation and the founder, the foundation is represented, in the case of a two-person management board, by the member of the management board who is not the founder. He may independently make declarations of will and dispose of the foundation’s funds without limitation. Where the management board consists of three persons, the members of the management board who are not the founder act independently in this respect, making declarations of will and disposing of the foundation’s funds up to the amount of 100,000 złoty (one hundred thousand złoty), and above this amount they act jointly.