Fundacja Skay LimitFoundation

Manner of representation

1. In the case of a one-person management board, declarations of will on behalf of the foundation are submitted by the President of the Management Board independently. 2. In the case of a multi-member management board: 1) in non-property matters and in property matters in which the value of a single liability or disposition does not exceed PLN 20,000, the foundation may be represented independently by the President of the Management Board; 2) in property matters in which the value of a single liability or disposition exceeds PLN 20,000, joint action by two members of the management board, including the President or Vice-President, is required; 3) the remaining members of the management board may represent the foundation jointly with the President or Vice-President.