Board Resolution For Change Of Signatories In Bank Account Template for Indonesia

A Board Resolution For Change Of Signatories In Bank Account is a formal corporate document that you need when modifying the authorized individuals who can operate your company's bank accounts in Indonesia. This resolution provides the legal framework and documentation required by both Indonesian corporate law and banking regulations to ensure proper authorization of signatory changes.

When do you need this document?

You will require this resolution during several key corporate situations. When executive leadership changes occur, departing officers must be removed as authorized signatories while new leadership gains banking access. During organizational restructuring, you may need to modify signatory hierarchies or delegate banking authorities to different departments. Employee departures, particularly those involving financial responsibilities, necessitate immediate signatory removal to protect corporate assets. Additionally, banks may request updated resolutions during periodic compliance reviews or when implementing new banking services that require fresh authorization documentation.

Key legal considerations

Your board resolution must include specific elements to ensure legal validity and bank acceptance. The document requires detailed meeting information including date, time, location, and confirmation of proper quorum according to your company's articles of association. You must clearly identify existing authorized signatories who are being removed and provide complete details of new signatories, including full names, positions, specimen signatures, and authorization limits. The resolution should specify whether signatories can act individually or require joint authorization for certain transaction types. Additionally, ensure the document includes proper corporate authentication through board chairperson and secretary signatures, along with the company seal where required.

Legal requirements in Indonesia

Indonesian law mandates strict compliance with Law No. 40 of 2007 on Limited Liability Companies when executing board resolutions. Your resolution must demonstrate that the board meeting was properly convened according to your company's articles of association, with adequate notice provided to all directors. The document must show sufficient director attendance to constitute a valid quorum as defined in your corporate bylaws. Under OJK Regulation No. 3/POJK.03/2016, banks require comprehensive Know Your Customer documentation for new signatories, including identity verification and authority confirmation. Bank Indonesia regulations mandate that financial institutions verify the authenticity of board resolutions before implementing signatory changes. Your resolution must also comply with any specific requirements outlined in your existing banking agreements and maintain consistency with previously filed corporate documents at the Ministry of Law and Human Rights.