Clubs under VARIOUS TYPES OF CUSTOMERS :

Account of a proprietary club can be opened like an individual account. However, clubs that are collectively owned by several members and are not registered under Societies Registration Act, 1860, or under any other Act, are treated like an unregistered firm. While opening and conducting the account of such clubs, the following requirements are to be met:

– Certified copy of the rules of the club is to be submitted.

– Resolution of the managing committee or general body, appointing the bank as their banker and specifying the mode of operation of the account has to be submitted,

– The person operating the club account should not credit the cheques drawn favouring the club, to his personal account.