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Foundations: Greater Legal Certainty for Founders

Published: December 22, 2010; 19:41 · (Vindobona)

A new amendment to Austrian private foundations law allows more clarity for private founders.

Foundations: Greater Legal Certainty for Founders / Picture: © Flickr

Two Supreme Court decisions from 2009 caused considerable legal uncertainty for many founders. Now, the law is to be repaired.

Specifically, the issue is the lawful appointment of the foundation board. Because of the Supreme Court’s decision an 80% of the Austrian foundations had no longer legally appointed members of their boards, since in practice these are mainly…

This article includes a total of 269 words.

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