47Post-incorporation contracts

47 Post-incorporation contracts (1) A person acting with the express or implied authority of an incorporated association may enter into, vary or discharge a contract in the name of or on behalf of the association as if the contract were entered into, varied or discharged by an individual. (2) The entering into, variation or discharge of a contract in accordance with subsection (1) binds the association and the other party or parties to the contract. Division 3.7 Rights and liabilities of members and officers Division 3.7 Rights and liabilities of members and officers 48 Relationship between association and members The rules of an incorporated association are taken to bind the association and its members from time to time as if the rules had been signed by each member and contained covenants on the part of each member to observe all the rules.