I can't find the reference at the moment but isn't it the case that the aircraft owner/operator "designates" the Pilot in Command?
From that it would follow that you can have all licences and ratings in the world but unless the aircraft owner/operator agrees for you to be PIC, you cannot be PIC? And I mean, legally.
And from that it would follow that to be PIC you have to abide by all the rules laid down by the owner/operator/flying club as otherwise they won't "agree" for you to act as PIC. The rules will normally include being a club member, having been checked out and with the currency limits.
What are you up to, Scoobster?
/h88