Management of the Foundation
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Management of the Foundation

Managements of the Foundation are individual that qualify to perform a legal act, that appointed by Trustees of the Foundation to manage the Foundation. Such appointment performed based on the resolution of the meeting of trustees and it shall be appointed for 5 years period and may be appointed again or extended as stipulated in the article of association of such foundation. Management of the foundation shall at least consist of one chairman, one secretary, and one treasurer. Trustees have the right to dismiss the Managements if the Managements are considered have done any actions that are causing any loss to the foundation within their tenure.

As the managements, shall fully responsible to manage the foundation for the purpose and objective of such foundation and have the rights to perform any action in the name of the foundation. Manager may be asked to jointly responsible for any bankruptcy occurred that is caused by such manager negligence, and such foundation wealth are no longer enough to endure such loss. However if the manager can prove that the manager has no correlation to such bankruptcy, they can be released of such joint responsibility.

 

 

Suria Nataadmadja & Associates Law Firm

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