Unincorporated Associations. If the Account is for the non-personal use, operation and benefit of a club, grouping of persons, or other unincorporated association, the Member is the combination of persons making application and named as Signing Officers of the unincorporated association. Each such person must be a member of Vancity and each person is jointly and severally liable for all obligations and liabilities of the unincorporated association to Vancity. The terms and conditions in this Agreement applicable to a general partnership shall apply to all Members of an unincorporated association named as Signing Officers as if they carried on the business of the unincorporated association as a partnership.
Unincorporated Associations. If you are members of an unincorporated association, the following additional terms apply:
Unincorporated Associations. If you own a property with another legal person or persons in an unincorporated association (a “Joint Venture”), and you (or your Delegate) self-identify to us as authorized to represent the Joint Venture, you make a continuing representation and warranty to us that you have the full authority of all members of the Joint Venture to represent and bind all members of the Joint Venture to the terms and conditions of Story and any of its Features, including the designation of Delegates and all activities related to the collection and remittance of payments to an account designated by you or your Delegate. . You further acknowledge that (i) all notices required or contemplated to be sent by us, our affiliates or other third party suppliers to the Joint Venture may be sent to you or your Delegate in lieu thereof, and such notice to you or your Delegate shall constitute requisite notice to each of the other legal person(s) in such Join Venture and (ii) any annual tax related reports or other government filings related to payments by, or collection activity for, the Joint Venture and facilitated by the Rent Management Feature or processed by us, our affiliates or other third party suppliers may be made under the tax identification number provided to us during your setup of Rent Management or any other Story Features.
Unincorporated Associations. When parties wish to jointly pursue a business enterprise, one option is to use an unincorporated association. There are various types of unincorporated associations that parties can use to conduct business. One of the leading types is partnership. Under one definition, “[a ] partnership is an association of two or more persons to carry on as co- owners a business for profit.” 85 In some jurisdictions, partnerships are considered a juridical entity, while other jurisdictions consider a partnership to be simply a relationship between the partners, rather than a juridical entity. 86 Often, civil laws systems treat partnerships as a juridical entity.87 In contrast, the common law historically applied the “aggregate” theory to partnerships,88 a theory which holds that a partnership is simply an aggregate of individuals, not a separate entity, because a partnership is merely a relationship between individuals. Now, however, many common law jurisdictions have enacted detailed statutory regimes to govern partnership law, so that partnership law is no largely a matter of statute, rather than common law, in those places. And many of those statutory regimes treat partnerships as entities. For example, in the United States, all 49 states other than Louisiana have adopted some version of the Uniform Partnership Act, and that Act largely treats partnerships as entities. 84 “The term “joint venture” is not a term of art in English or Scots 11.2 law and it can be used to refer to a specifically established limited company, a partnership or an unincorporated contractual association for a given purpose. It is the unincorporated joint venture which is used by the oil industry in the UKCS (and most commonly throughout the rest of the world). The unincorporated joint venture has been favoured by the oil industry over other possible models such as legal partnership or incorporation because of the tax advantages it provides and the lack of mutual liability which is possible under the JOA.” Xxxxx Xxxxxx, ´Joint Operating Agreements` in Xxxx Xxxxxxxx, Xxxx Xxxxxx (eds), Oil and Gas Law: Current Practice and Emerging Trends (DUP, Dundee 2007) 273-277. 85 N.Y. Partnership Law § 10. 86 Xxxx, supra n. 39 § 9 at pp. 50-1. 87 Xxxx, supra n. 39 § 9 at pp. 16-19. 88 Id. Whether a partnership is considered an entity or merely a relationship between the partners, certain elements or characteristics of a partnership tend to be very similar from one jurisdiction to another. One common law so...
Unincorporated Associations. I.10.1 On the basis of criteria it sets, KBC Bank may establish a bank-customer relationship with the members of an unincorporated association, provided the aims of the association are in keeping with the financial ethics observed by the bank. An unincorporated association is an organization without legal personality, the resources of which are used by the members for a specific object. Hence, they are not entitled to a share in profit made, nor may they enrich themselves individually with the revenues of the organization. On withdrawal or exclusion from the association or their death or on the dissolution of the association, they are not entitled to claim a refund or compensation for amounts paid or contributions made. The representatives declare that the credit balances and other assets held in the name of the association are not the personal property of the members or representatives, as set out above: if this is not actually the case, the representatives will be personally liable, to the exclusion of the bank, for all consequences.
