Board Resolution Format for Opening Demat Account

CERTIFIED EXTRACT OF BOARD RESOLUTION

DOCUMENT ID: CORP-RES-DMAT-2024-001

EFFECTIVE DATE: [Date] | VERSION: 1.0 | GOVERNING JURISDICTION: [State/Country]

STATUTORY & LEGAL COMPLIANCE NOTICE

This document constitutes a formal record of corporate action. The enforceability of this resolution is contingent upon its compliance with the Company’s Articles of Association, Bylaws, and the applicable corporate laws of the governing jurisdiction. Legal counsel should verify the quorum requirements and the specific authorization limits set forth in the corporate charter prior to execution.

1. RECITALS AND CORPORATE ACTION

WHEREAS, [Company Full Legal Name] (the "Company"), a corporation duly organized and existing under the laws of [Jurisdiction], determines it to be in the best interests of the Company to establish, maintain, and operate one or more dematerialized (Demat) accounts for the purpose of holding, trading, and managing financial securities.

WHEREAS, the Board of Directors of the Company has reviewed the proposal to open said account(s) with [Financial Institution/Depository Participant Name] (the "Financial Institution"), located at [Principal Address of Institution].

2. RESOLVED OPERATIVE CLAUSES

2.1 Authorization to Open Account IT IS HEREBY RESOLVED, that the Company be, and is hereby, authorized to open, maintain, and close one or more Demat accounts with the Financial Institution, under such terms, conditions, and agreements as may be required by the Financial Institution.

2.2 Designation of Authorized Signatories RESOLVED FURTHER, that the following individuals are hereby appointed as "Authorized Signatories" for and on behalf of the Company, with full power and authority to sign, execute, and deliver all applications, agreements, instruction slips, power of attorney documents, and any other instruments necessary to effectuate the opening and operation of the Demat account:

1. Name: [Name], Title: [Title], Specimen Signature: ____________________
2. Name: [Name], Title: [Title], Specimen Signature: ____________________

2.3 Scope of Powers RESOLVED FURTHER, that the Authorized Signatories are severally empowered to: (a) Purchase, sell, transfer, exchange, pledge, or otherwise dispose of any securities held in the account; (b) Issue instructions for the transmission of securities; (c) Receive and acknowledge all correspondence, statements, and notices from the Financial Institution; (d) Amend or terminate the account agreement as deemed necessary for corporate interests.

2.4 Ratification RESOLVED FURTHER, that any and all actions taken by the Authorized Signatories prior to the date of this Resolution, consistent with the purpose of this Resolution, are hereby ratified, approved, and confirmed in all respects.

2.5 Certified Copy RESOLVED FURTHER, that a certified copy of this Resolution be provided to the Financial Institution, and that said Institution may rely upon this Resolution until it receives written notice of its amendment or rescission by the Board of Directors of the Company.

3. EXECUTION AND CERTIFICATION

I, [Name of Secretary/Director], being the [Secretary/Director] of [Company Full Legal Name], do hereby certify that the above is a true and correct copy of the resolution adopted by the Board of Directors at a meeting held on [Date], at which a quorum was present and voting, and that said resolution has not been modified or rescinded as of the date hereof.

FOR [COMPANY FULL LEGAL NAME]: Signature: _____________________________________ Printed Name: [Authorized Signatory Name] Title: [Title / Role] Company: [Company Legal Name] Date: [Date] (Corporate Seal, if applicable)

4. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Customization: Open this document in your preferred word processor. Use "Find and Replace" to ensure all bracketed placeholders [...] are populated with accurate corporate data.
2. Authority Verification: Confirm the Board of Directors has the requisite quorum to pass this resolution as mandated by your corporate bylaws.
3. Execution Protocol:
   • Print on official company letterhead.
   • The Secretary or a Director (not the one being appointed as an Authorized Signatory, if possible) should sign the Certification block.
   • Affix the Corporate Seal if your jurisdiction or the Financial Institution requires it for "wet ink" verification.
4. Digital Signature: If using DocuSign or Adobe Sign, ensure the "Corporate Seal" or "Company Stamp" is uploaded as an image field, and assign the signing order to the Company Secretary first, followed by the Authorized Signatories.
5. Record Retention:
   • Retain one original signed copy in the Company’s "Minute Book" or "Corporate Records Folder."
   • Provide a certified true copy to the Financial Institution (Demat service provider).
   • Maintain a digital copy in the Company’s legal repository for audit readiness.