Fundacja Integracji Kultur TesseraFoundation

Manner of representation

The management board directs the activities of the foundation and represents it externally. Method of representation and incurring property liabilities: 1. In the case of a one-person management board, declarations of will on behalf of the foundation are made independently by the President of the Management Board. 2. In the case of a multi-member management board, each member of the management board is entitled to make declarations of will on behalf of the foundation, including in property matters, independently, subject to paragraph 3. 3. In matters concerning incurring a liability or disposing of a right with a value exceeding PLN 50,000.00 (in words: fifty thousand złoty), joint action by two members of the management board acting jointly, including the President of the Management Board, is required.