Clearly our clubs should be incorperated as banks.  We could avoid all liability and even receive bail outs when something  goes wrong.

As I read the OP , it appears that the AMA is liable for compliance with its rules. The AMA governs therefore the AMA could be found  vicariously liable.

This is exactly why clubs should never adopt any rules other than those provided by the AMA.  To avoid this exact type of liability.