Związek Aerobiku SportowegoAssociation

Manner of representation

1. Subject to paragraph 2, declarations of will on behalf of the association in property matters may be made by two members of the management board acting jointly, one of whom must be the President of the Management Board, the Vice-President or the Secretary. 2. Decisions on the acquisition, disposal or encumbrance of real property and on incurring property obligations exceeding 200,000.00 zlotys require a resolution of the management board adopted by a simple majority. 3. In non-property matters (e.g. matters related to the registration of the association, representation before courts, state and local government administration authorities, and in administrative proceedings), the sports association may be represented by the President of the Management Board acting independently. 4. In agreements between the sports association and members of the management board, and in disputes with them, the sports association is represented by the Chairperson of the Audit Committee or an attorney-in-fact appointed by the General Meeting of Members.