Fundacja Rzeczy NajprostszeFoundation

Manner of representation

Declarations of will on behalf of the foundation in all matters except property matters may be made by each member of the management board independently. In property matters up to the amount of PLN 150,000 (in words: one hundred and fifty thousand złoty), the President is entitled to act independently. The remaining members of the management board are entitled to act independently in property matters up to the amount of PLN 50,000 (in words: fifty thousand złoty). In property matters exceeding the amount of PLN 150,000 (in words: one hundred and fifty thousand złoty), joint action by two members of the management board, including the President, is required, and in the case of a one-person management board – by the President independently.