Stowarzyszenie Akademia Tenisa Wyspiarze ŚwinoujścieAssociation

Manner of representation

Declarations of will on behalf of the association, including in property-related matters, may be made by each member of the management board independently, provided that the value of the obligation incurred or the right disposed of does not exceed PLN 10,000 (in words: ten thousand Polish zloty zloty). In property-related matters in which the value of the obligation or the right disposed of exceeds PLN 10,000 (in words: ten thousand Polish zloty), the validity of the declaration of will requires the joint action of two members of the management board acting jointly. In the case of continuous or periodic obligations (e.g. lease agreements, employment contracts), the value of the obligation is the sum of the performances for the entire term of the agreement, and in the case of agreements concluded for an indefinite period, the sum of the performances for a period of 12 months.