The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
This Practice Note which provides information on the type of acts an unincorporated association, its members or officers may perform in a finance transaction. Any reference in this Practice Note to an association is a reference to an unincorporated association. It also covers the steps which can be taken to investigate capacity and authority under English law.
In Koeppler, an unincorporated association was described as ‘an association of persons bound together by identifiable rules and having an identifiable membership’. This is a distillation of the lengthier definition found in Burrell.
An unincorporated association:
is a body, such as a members' club, society or trade union, which has not been incorporated as a company
is an organisation formed when two or more persons (members) carry on activities together for a common purpose
does not operate for the purpose of generating profit (where two or more persons carry on business for the purpose of making a profit, a partnership will be established and partnership law will apply)
is not a separate legal entity from its members and officers, so the officers and members are personally liable for the debts and obligations of the association, and
may not enter into contracts, own assets, sue or be sued in its own name
An unincorporated association has no separate legal personality. This
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