A8 Liability and responsibility of the foundation bodies

Only the foundation’s assets are liable for the foundation’s debts. There is no obligation to make additional contributions.
The organs of the foundation (board of trustees, auditors, supervisory board, protector, advisory board, collator, curator) are liable in accordance with the general liability provisions.
The heirs of the founder are liable for evaded taxes of the founder in connection with the foundation.

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Accounting rules

Foundations that operate a commercial business and whose statutory purpose does not permit this must keep records of the administration and use of the foundation’s assets, taking into account the principles of proper accounting appropriate to the foundation’s assets, and must retain documents from which the course of business and the development of the foundation’s assets can be traced. Furthermore, the Board of Trustees must keep an asset register showing the status and investment of the foundation’s assets.

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