Close Corporations Act, 1984 (Act No. 69 of 1984)Part VI : External Relations54. Power of members to bind corporation |
| (1) | Subject to the provisions of this section, any member of a corporation shall in relation to a person who is not a member and dealing with the corporation, be an agent of the corporation. |
| (2) | Any act of a member shall bind a corporation whether or not such act is performed for the carrying on of the business of the corporation unless the member so acting has in fact no power to act for the corporation in the particular matter and the person with whom the member deals has, or ought reasonably to have, knowledge of the fact that the member has no such power. |