Fundacja Bloom Studio by DayanaFoundation

Manner of representation

Declarations of will on behalf of the foundation may be made by each member of the management board independently. Each member of the management board has the right and obligation to conduct the affairs of the foundation. Each member of the management board may, without a prior resolution of the management board, conduct matters that do not exceed the scope of the foundation’s ordinary activities. In matters exceeding the scope of the foundation’s ordinary activities, i.e. in the case of carrying out the following activities: 1. establishing and opening the foundation’s bank accounts; 2. incurring and entering into credit and loan agreements; 3. entering into donation agreements in which the foundation acts as donor, with a value exceeding PLN 2,000.00 (two thousand zlotys); 4. entering into agreements giving rise to an obligation on the part of the foundation exceeding PLN 10,000.00 (ten thousand zlotys); 5. entering into agreements guaranteeing the obligations of third parties; 6. entering into agreements for the purchase or sale of real property; 7. entering into agreements for the lease or tenancy of real property; 8. amending the foundation’s statute, a prior written resolution of the management board is required.