Trustee of the Foundation
As we have discussed in the earlier article, as a legal entity, foundation organ consist of Trustees, Managements, and Supervisors. Trustees of the Foundation have all authority that are not authorized to the Managements and Supervisors of the Foundation by the Laws or Article of Association. Such authority consist of:
- Resolution regards to the amendment of the Article of Association;
- Appointment and dismissal of the member of Managements and Supervisors;
- Stipulation of Foundation’s public policy based on the Foundation’s Article of Association;
- Approval of Foundation’s yearly programs and budgets; and
- Stipulation of the decision to merge or disband the Foundation.
Trustees of the Foundation may only consist of the founder as an individual and/or those whom are according to the Trustee’s member meeting assessed as qualified and highly dedicated to perform the purposes and objectives of the Foundation. However the member of Trustees are strictly prohibited to have a concurrent position as the member of Managements and/or Supervisors of related foundation.
Trustees has the obligation to held an annual meeting at least once to evaluate the wealth, rights and obligations of the foundation on the last year to be the basic consideration for the following year development of foundation.
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