Fundacja Res Publica ModernaFoundation

Manner of representation

1. In matters of ordinary management, in particular concerning ongoing statutory activities, the foundation is represented by each member of the management board independently. 2. In matters exceeding the scope of ordinary management, in particular in the case of: 1) taking out a credit or loan; 2) acquiring or disposing of real property or the right of perpetual usufruct; 3) incurring an obligation with a value exceeding the amount specified by a resolution of the foundation council; joint action by two members of the management board is required, or–in the case of a one-person management board–a resolution of the foundation council expressing consent to perform the action.