Foundation board
The body that manages and represents the private foundation. Consists of at least three members, two of whom must reside in the EEA.
The board acts with the diligence of a prudent and conscientious business person (§ 17 PSG). It is liable to the foundation for breaches of duty under § 29 PSG. Beneficiaries and their close relatives are barred from serving on the board (§ 15 PSG).
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Legal basis
Statutory texts for orientation; the version in force at the relevant time prevails.
This explanation gives a general overview of Austrian law and does not replace advice in an individual case. The specific circumstances of your foundation are always decisive.
Conflict in the foundation, a blocked board, information denied?
In foundation law, structure, deadlines and evidence decide. Call us directly or write to us, callback within one business day.
Direct line to the firm.
Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000