I think it depends on a couple factors:

Where are you located? In North America, it's a convoluted set of trigonometric functions that determine a handicap. This general handicap is further manipulated depending on the slope and rating of the course you play. My understanding is that across the pond, you have your handicap, and you apply it against the standard scatch score for a course. (In other words, I think the math is much simpler).

Then, as you said, there's a 'maximum handicap'. Finland is 54. USGA ruled (USA, Canada) the max is 36.

I don't even want to think about what happens when a USGA handicap is applied to an SSS.

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A new highlight: Golfing the home course on Christmas Day.

I say it too often: If it's golf club shaped, you can play with it.

For the record, I'm a club doctor, not a swing doctor.