Fundacja Uważna KulturaFoundation

Manner of representation

In non-property matters, each member of the management board is authorised independently to make declarations of will on behalf of the foundation and to receive declarations addressed to the foundation. In property matters, including the conclusion of agreements and the granting of powers of attorney, if the value of the obligation on a one-off basis does not exceed PLN 10,000.00, the foundation is represented by each member of the management board independently. If the value of the obligation on a one-off basis exceeds PLN 10,000.00, in the case of a multi-member management board, the joint action of two members of the management board is required, whereas in the case of a one-person management board, the foundation is represented by the President of the Management Board independently. Incurring an obligation on behalf of the foundation which, on a one-off basis or during a monthly period, exceeds the equivalent of PLN 100,000.00 requires the prior written consent of the foundation council expressed in the form of a resolution.