Fundacja Skansen Hażlach TexasFoundation

Manner of representation

1. Declarations of will on behalf of the foundation, including in property matters, may be made by each member of the management board acting independently, subject to point 2. 2. The following declarations of will on behalf of the foundation may be made by at least two members of the management board acting jointly: 1) sale or lease of the enterprise or its organised part and establishment of a limited right in rem thereon, 2) disposal by the foundation of a right or incurring of a liability whose value exceeds PLN 200,000.00 (in words: two hundred thousand and 00/100 zlotys), 3) acquisition and disposal of real estate, perpetual usufruct or an interest in real estate, irrespective of their value, 4) issue of a bill of exchange by the foundation, 5) guarantee of performance of an obligation by the foundation.