Stowarzyszenie Emba&Mba HubAssociation

Manner of representation

1. The validity of declarations of will and the assumption of property obligations on behalf of the association, within the scope of ordinary management, requires the joint action of the President together with another member of the management board or the Vice-President together with another member of the management board, subject to § 19 section 2. 2. The assumption of property obligations on behalf of the association, within the scope of ordinary management, in excess of PLN 10,000 requires the joint action of the President together with another member of the management board or the Vice-President. 3. In matters exceeding the scope of ordinary management, the President makes declarations of will with the prior consent of the Founders’ Assembly expressed in the form of a resolution. In case of doubt, it is assumed that actions exceeding the scope of ordinary management include in particular those whose value exceeds PLN 200,000. 4. Disposal of assets with a value exceeding PLN 200,000 requires the consent of the Founders’ Assembly.