Fundacja Pako LorenteFoundation

Manner of representation

In the case of a one-person management board, declarations of will on behalf of the foundation in property and non-property matters are made by the member of the management board independently. In the case of a multi-member management board, each member of the management board is authorised to make declarations of will on behalf of the foundation independently, subject to matters involving the disposal of a right or the incurring of an obligation to perform a service with a value equal to or exceeding PLN 30,000.00 (in words: thirty thousand zlotys 00/100), in which joint action by two members of the management board is required.