37 Montford Avenue, Asheville, NC 28801
828-255-8505
board@lotsar.org

Bylaws

Signifying Excellence in Real Estate since 1917

BYLAWS OF THE ASHEVILLE BOARD OF REALTORS®, INC.
TABLE OF CONTENTS
Article I: 2 Name
Article II: 2 Objectives
Article III: 3 Jurisdiction
Article IV: 3 Membership
Article V: 6 Qualification and Election
Article VI: 10 Privileges and Obligations
Article VII: 14 Professional Standards and Arbitration
Article VIII: 14 Use of terms REALTOR® and REALTORS®
Article IX: 15 State and National Memberships
Article X: 16 Dues and Assessments
Article XI: 19 Officers and Directors
Article XII: 22 Meetings
Article XIII: 23 Committees
Article XIV: 24 Fiscal and Elective Year
Article XV: 24 Rules of Order
Article XVI: 24 Amendments
Article XVII: 25 Dissolution
Article XVIII: 25 Multiple Listing
Article XIX: 27 Information Technology Services and Other Activities
Article XX: 27 Commercial and Investment Division
Article XXI: 28 Eco Division
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BYLAWS OF THE ASHEVILLE BOARD OF REALTORS®, INC.
Adopted November 8, 1995 To Be Effective January 1, 1996
Amended – September 18, 1996
Amended – July 12, 2000
Amended – November 21, 2000
Amended – May 2001
Amended – September 26, 2001
Amended – January 2002
Amended – March 13, 2003
Amended – November 17, 2003
Amended – January 2004
Amended – February 26, 2004
Amended – September 08, 2004
Amended – May 25, 2006
Amended – June 1, 2006
Amended – August 1, 2006
Amended – November 16, 2006
Amended – April 5, 2007
Amended – September 26, 2007
Amended – December 2, 2009
Amended – January 1, 2014
Amended – October 30, 2014

Article I: Name
Section 1: Name The name of this organization shall be the Asheville Board of
REALTORS®, Inc., hereinafter referred to as the “Board”.
Section 2: REALTORS® Inclusion and retention of the Registered Collective
Membership Mark REALTORS® in the name of the Board shall be governed by the
Constitution and Bylaws of the NATIONAL ASSOCIATION OF REALTORS® as from
time to time amended.
Article II: Objectives
The objectives of the Board are:
Section 1: To unite those engaged in the recognized branches of the real estate
profession for the purpose of exerting a beneficial influence upon the profession and
related interests.
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Section 2: To promote and maintain high standards of conduct in the real estate
as expressed in the Code of Ethics of the NATIONAL ASSOCIATION OF
REALTORS®.
Section 3: To provide a unified medium for real estate owners and those engaged
in the real estate profession whereby their interests may be safeguarded and advanced.
Section 4: To further the interests of home and other real property ownership.
Section 5: To unite those engaged in the real estate profession in this community
with the North Carolina Association of REALTORS® and the NATIONAL
ASSOCIATION OF REALTORS® thereby furthering their own objectives throughout
the state and nation, and obtaining the benefits and privileges of membership therein.
Section 6: To designate, for the benefit of the public, individuals authorized to
use the terms REALTOR® and REALTORS® as licensed, prescribed, and controlled by
the NATIONAL ASSOCIATION OF REALTORS®.
Article III: Jurisdiction
Section 1: The territorial jurisdiction of the Board as a Member of the
NATIONAL ASSOCIATION OF REALTORS® is Buncombe, Madison and
Transylvania Counties, North Carolina.
Section 2: Territorial jurisdiction is defined to mean: The right and duty to
control the use of the terms REALTOR® and REALTORS® subject to the conditions set
forth in these Bylaws and those of the NATIONAL ASSOCIATION OF REALTORS®,
in return for which the Board agrees to protect and safeguard the property rights of the
National Association in the terms.
Article IV: Membership
Section 1: There shall be seven classes of Members as follows:
(a) REALTOR® Members: REALTOR® members, whether primary or
secondary, shall be:
(1) Individuals who, as sole proprietors, partners, corporate officers, or
branch office managers, are engaged actively in the real estate profession, including
buying, selling, exchanging, renting or leasing, managing, appraising for others for
compensation, counseling, building, developing or subdividing real estate, and who
maintain or are associated with an established real estate office in the state of North
Carolina or a state contiguous thereto. All persons who are partners in a partnership, or
all officers in a corporation who are actively engaged in the real estate profession within
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the state or a state contiguous thereto shall qualify for REALTOR® Membership only,
and each is required to hold REALTOR® Membership in a Board of REALTORS®
within the state or a state contiguous thereto unless otherwise qualified for Institute
Affiliate Membership as described in Section 1(b) of Article IV.
In the case of a real estate firm, partnership, or corporation, whose business activity is
substantially all commercial, only those principals actively engaged in the real estate
business in connection with the same office, or any other offices within the jurisdiction of
the board in which one of the firm’s principals holds REALTOR® membership, shall be
required to hold REALTOR® membership unless otherwise qualified for Institute
Affiliate Membership as described in Section 1 (b) of Article IV. (Amended 1/01)
NOTE: REALTOR® Members may obtain membership in a “secondary” Board
in another state.
(2) Individuals who are engaged in the real estate profession other than as
sole proprietors, partners, corporate officers, or branch office mangers and are associated
with a REALTOR® Member and meet the qualifications set out in Article V.
(3) Franchise REALTOR® Membership. Corporate officers (who may
be licensed or unlicensed) of a real estate brokerage franchise organization with at least
one hundred fifty (150) franchisees located within the United States, its insular
possessions and the commonwealth of Puerto Rico, elected to membership pursuant to
the provisions in the NAR Constitution and Bylaws. Such individuals shall enjoy all of
the rights, privileges and obligations of REALTOR® membership (including compliance
with the Code of Ethics) except: obligations related to board mandated education,
meeting attendance, or indoctrination classes or other similar requirements; the right to
use the term REALTOR® in connection with their franchise organization’s name; and the
right to hold elective office in the local board, state association and National Association.
(4) Primary and Secondary REALTOR® Members. An individual is a
primary member if the Board pays state and National dues based on such Member. An
individual is a secondary Member if state and National dues are remitted through another
Board. One of the principals in a real estate firm must be a Designated REALTOR®
Member of the Board in order for licensees affiliated with the firm to select the Board as
their “primary” Board.
(5) Designated REALTOR® Members. Each firm (or office in the case
of firms with multiple office locations) shall designate in writing one REALTOR®
Member who shall be responsible for all duties and obligations of Membership including
the obligation to arbitrate pursuant to Article 17 of the Code of Ethics and the payment of
Board dues as established in Article X of the Bylaws. The “Designated REALTOR®”
must be a sole proprietor, partner, corporate officer or branch office manager acting on
behalf of the firm’s principal(s) and must meet all other qualifications for REALTOR®
Membership established in Article V, Section 2, of the Bylaws.
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(b) Institute Affiliate Members: Institute Affiliate Members shall be
individuals who hold a professional designation awarded by an Institute, Society, or
Council affiliated with the NATIONAL ASSOCIATION OF REALTORS® that
addresses a specialty area other than residential brokerage or individuals who otherwise
hold a class of membership in such Institute, Society, or Council that confers the right to
hold office. Any such individual, if otherwise eligible, may elect to hold REALTOR® or
REALTOR-Associate® membership, subject to payment of applicable dues for such
membership.
(c) Allied Members: Allied Members shall be individuals or firms from housing
related industries and professions who, while not engaged in real estate sales as defined in
paragraphs (a) or (b) of this Section, have interests requiring information concerning real
estate, and are in sympathy with the objectives of the Board.
(d) Public Service Members: Public Service Members shall be individuals who
are interested in the real estate profession as employees of or affiliated with educational,
public utility, governmental or other similar organizations, but are not engaged in the real
estate profession on their own account or in association with an established real estate
business.
(e) Honorary Members: Honorary Members shall be individuals not engaged
in the real estate profession who have performed notable service for the real estate
profession, for the Board, or for the public.
(f) Student Members: Student Members shall be individuals who are seeking a
undergraduate or graduate degree with a specialization or major in real estate at
institutions of higher learning, and who have completed at least two years of college and
at least one college level course in real estate, but are not engaged in the real estate
profession on their own account or not associated with an established real estate office.
(g) Life Members: Life Members shall be individuals who have been
REALTORS® for 30 years, who shall be actively engaged in the Real Estate Profession
as defined in Article IV, and who have distinguished themselves by giving exemplary and
meritorious service for the real estate profession, and for this Board. A Life Member may
be so designated only at the discretion of the Board of Directors, upon written nomination
from at least two (2) REALTOR® members that are not currently serving as a Director of
the local Board. Upon approval of such individual by the Directors, payment of dues in
the local Board shall be waived and the REALTOR® Life Member shall continue to
receive all services of the Board.
Article V: Qualification and Election
Section 1: Application
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(a) An application for membership shall be made in such manner and form as
may be prescribed by the Board of Directors and made available to anyone requesting it.
The application form shall contain among the statements to be signed by the applicant:
(1) that applicant agrees as a condition to membership to thoroughly
familiarize himself with the Code of Ethics of the NATIONAL ASSOCIATION OF
REALTORS®, the Constitutions, Bylaws, and Rules and Regulations of the Board, the
State and National Associations, and if elected a Member, will abide by the Constitutions
and Bylaws and Rules and Regulations of the Board, State and National Associations, and
if a REALTOR® Member will abide by the Code of Ethics of the NATIONAL
ASSOCIATION OF REALTORS® including the obligation to arbitrate controversies
arising out of real estate transactions as specified by Article 17 of the Code of Ethics, and
as further specified in the Code of Ethics and Arbitration Manual of the NATIONAL
ASSOCIATION OF REALTORS®, as from time to time amended, and
(2) that applicant consents that the Board, through its Board of Directors
or otherwise, may invite and receive information and comment about applicant from any
Member or other persons, and that applicant agrees that any information and comment
furnished to the Board by any person in response to the invitation shall be conclusively
deemed to be privileged and not form the basis of any action for slander, libel, or
defamation of character. The applicant shall, with the form of application, have access to
a copy of the Bylaws, Constitution, Rules and Regulations, and Code of Ethics referred to
above.
Section 2: Qualification
(a) An applicant for REALTOR® Membership who is a sole proprietor, partner,
corporate officer, or branch office manager of a real estate firm shall supply evidence
satisfactory to the Board of Directors that he is actively engaged in the real estate
profession, and maintains a current, valid real estate broker’s or salesperson’s license or is
licensed or certified by an appropriate state regulatory agency to engage in the appraisal
of real property, has a place of business within the state or a state contiguous thereto
(unless a secondary member), has no record of recent or pending bankruptcy*, has no
record of official sanctions involving unprofessional conduct**, agrees to complete a
course of instruction covering the Bylaws and Rules and Regulations of the Board, the
Bylaws of the State Association, and the Constitution and Bylaws and Code of Ethics of
the NATIONAL ASSOCIATION OF REALTORS® and shall pass such reasonable and
non discriminatory written examination thereon as may be required, and shall agree that if
elected to membership, he will abide by such Constitution, Bylaws, Rules and
Regulations, and Code of Ethics. (*)
(*)NO RECENT OR PENDING BANKRUPTCY is intended to mean that the
applicant or any real estate firm in which the applicant is a sole proprietor, general
partner, or corporate officer, or branch office manager is not involved in any pending
bankruptcy or insolvency proceedings or has not been adjudged bankrupt in the past
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three (3) years. If a bankruptcy proceeding as described above exists, membership
may not be rejected unless the Board establishes that its interests and those of its
members and the public could not be adequately protected by requiring that the
bankrupt applicant pay cash in advance for Board and MLS fees for up to one (1) year
from the date that membership is approved or from the date that the applicant is
discharged from bankruptcy (whichever is later). In the event that an existing
member initiates bankruptcy proceedings, the member may be placed on a “cash
basis” from the date that bankruptcy is initiated until one (1) year from the date that
the member has been discharged from bankruptcy.
(**)NO RECORD OF OFFICIAL SANCTIONS INVOLVING
UNPROFESSIONAL CONDUCT is intended to mean that the Board may only
consider judgments within the past three (3) years of violations of (1) civil rights
laws; (2) real estate license laws; (3) or other laws prohibiting unprofessional conduct
against the applicant rendered by the courts or other lawful authorities.
NOTE: One or more of the requirements for REALTOR® Membership set forth in
Article V, Section 2(a) may be deleted at the Board’s option. However, Boards may
NOT adopt membership qualifications more rigorous than specified in the
Membership Qualification Criteria for REALTOR® Membership approved by the
Board of Directors of the National Association.
(b) Individuals who are actively engaged in the real estate profession other than as
sole proprietors, partners, corporate officers, or branch office managers in order to quality
for REALTOR® Membership, shall at the time of application be associated either as an
employee or as an independent contractor with a Designated REALTOR® Member of the
Board or a Designated REALTOR® Member of another Board (if a secondary member)
and must maintain a current, valid real estate broker’s or salesperson’s license or be
licensed or certified by an appropriate state regulatory agency to engage in the appraisal
of real property, shall complete a course of instruction covering the Bylaws and Rules and
Regulations of the Board, the Bylaws of the State Association, and the Constitution and
Bylaws and Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS® and
shall pass such reasonable and non discriminatory written examinations thereon as may
be required, and shall agree in writing that if elected to membership he will abide by such
Constitution, Bylaws, Rules and Regulations, and the Code of Ethics.
Section 3: Election The procedure for election to membership shall be as
follows:
(a) The Board of Directors shall determine whether the applicant is applying for
the appropriate class of membership. It shall then give written notice to the REALTOR®
Members of such application and invite written comment. If one or more of the
REALTOR® Members object to the approval of the application, basing such objection on
lack of qualification as set forth in these Bylaws, the Board of Directors shall invite any
objecting Member to appear and substantiate his objections. Objections, which are not
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substantiated, shall be totally disregarded. The Board of Directors may not find
objections substantiated without: (1) informing the applicant in advance, in writing, of
the objections and identifying the objecting Member, and (2) giving the applicant a full
opportunity to appear before the Board of Directors and establish his qualifications. The
Board of Directors shall thereafter make a written report of its findings. The Board of
Directors shall conduct all proceedings with strict attention to the principles of due
process and compliance with the Bylaws of the Board.
(b) The Board of Directors shall review the qualifications of the applicant and
then vote on the applicant’s eligibility for membership. If the applicant receives a
majority vote of the Board of Directors, he shall be declared elected to membership and
shall be advised by written notice. An application for membership shall be acted upon by
the Board of Directors within sixty (60) days from the date of application for
membership.
(c) The Board of Directors may not reject an application without providing the
applicant with advance notice of its findings and recommendations, and providing an
opportunity to appear before the Board of Directors, to call witnesses on his behalf, to be
represented by counsel, and to make such statements as he deems relevant. The Board of
Directors may also have counsel present. The Board of Directors shall require that
written minutes be made of any hearing before it, or may electronically or mechanically
record the proceedings.
(d) If the Board of Directors determines that the application should be rejected, it
shall record its reasons with the Secretary. If the Board of Directors believes that denial
of membership to the applicant may become the basis of litigation and a claim of damage
by the applicant, it may specify that denial shall become effective upon entry in a suit by
the Board for a declaratory judgment by a court of competent jurisdiction of a final
judgment declaration that the rejection violates no rights of the applicant.
Section 4: Status Changes
(a) A REALTOR® who changes the conditions under which he holds
membership shall be required to provide written notification to the Board within thirty
(30) days. A REALTOR® (non-principal) who becomes a principal in the firm with
which he has been licensed or, alternatively, becomes a principal in a new firm which will
be comprised of REALTOR® principals may be required to satisfy any previously
unsatisfied membership requirements applicable to REALTOR® (principal) Members but
shall, during the period of transition from one status of membership to another, be subject
to all of the privileges and obligations of a REALTOR® (principal). If the REALTOR®
(non-principal) does not satisfy the requirements established in these Bylaws for the
category of membership to which they have transferred within thirty (30) days of the date
they advised the Board of their change in status, their new membership application will
terminate automatically unless otherwise so directed by the Board of Directors.
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NOTE: The Board of Directors, at its discretion, may waive any qualification in which
the applicant has already fulfilled in accordance with the Boards’ Bylaws.
(b) Any application fee related to a change in membership status shall be reduced
by an amount equal to any application fee previously paid by the applicant.
(c) Dues shall be prorated from the first day of the month in which the member is
notified of election by the Board of Directors and shall be based on the new membership
status for the remainder of the year.
Section 5: New Member Code of Ethics Orientation: Applicants for
REALTOR® membership and provisional REALTOR® members (where applicable)
shall complete an orientation program on the Code of Ethics of not less that two hours
and thirty minutes of instructional time. This requirement does not apply to applicants for
REALTOR® membership or provisional members who have completed comparable
orientation in another association, provided that REALTOR® membership has been
continuous, or that any break in membership is for one year or less.
Failure to satisfy this requirement with thirty days of the date of application (or,
alternatively, the date that provisional membership was granted) will result in denial of
the membership application or termination of provisional membership.
NOTE: Orientation programs must meet the learning objectives and minimum
criteria established from time to time by the NATIONAL ASSOCIATION OF
REALTORS®. (Adopted 1/01)
Section 6: Continuing Member Code of Ethics Training: Effective January 1,
2001, through December 31, 2004, and for successive four year periods thereafter, each
REALTOR® member of the association shall be required to complete quadrennial ethics
training of not less than two hours and thirty minutes of instructional time. This
requirement will be satisfied upon presentation of documentation that the member has
completed a course of instruction conducted by this or another association, the State
Association of REALTORS®, the NATIONAL ASSOCIATION OF REALTORS®, or
any other recognized educational institution or provider which meets the learning
objectives and minimum criteria established by the NATIONAL ASSOCIATION OF
REALTORS® from time to time. REALTOR® members who have completed training
as a requirement of membership in another association and REALTOR® members who
have completed the New Member Code of Ethics Orientation during any four year cycle
shall not be required to complete additional ethics training until a new four year cycle
commences.
Failure to satisfy this requirement shall be considered a violation of a membership duty
for which REALTOR® membership shall be suspended until such time as the training is
completed. (Adopted 1/01)
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Members suspended for failing to meet the requirement for the first four (4)-year cycle
(2001 through 2004) will have until December 31, 2005 to meet the requirement. Failure
to meet the requirement by that time will result in automatic termination of membership.
Failure to meet the requirement for the second (2005 through 2008) cycle and subsequent
four (4)-year cycles will result in suspension of membership for the first two months
(January and February) of the year following the end of any four (4)-year cycle or until
the requirement is met, whichever occurs sooner. On March 1 of that year, the
membership of a member who is still suspended as of that date will be automatically
terminated. (Adopted 1/01, revised 5/05)
Article VI: Privileges and Obligations
Section 1: The privileges and obligations of Members, in addition to those
otherwise provided in these Bylaws, shall be specified in this Article.
Section 2: Any Member of the Board may be reprimanded, fined, placed on
probation, suspended, or expelled by the Board of Directors for a violation of these
Bylaws and Board rules and Regulations consistent with these Bylaws, after a hearing as
provided in the Code of Ethics and Arbitration Manual of the Board. Although Members
other than REALTORS® are not subject to the Code of Ethics or its enforcement by the
Board, such Members are encouraged to abide by the principles established in the Code
of Ethics of the NATIONAL ASSOCIATION OF REALTORS® and conduct their
business and professional practices accordingly. Further, Members other than
REALTORS® may, upon recommendation by a hearing panel of the Professional
Standards Committee, be subject to discipline as described above, for any conduct, which
in the opinion of the Board of Directors, applied on a non discriminatory basis, reflects
adversely on the terms REALTOR® or REALTORS®, and the real estate industry, or for
conduct that is inconsistent with or adverse to the objectives and purposes of the local
Board, the State Association, and the NATIONAL ASSOCIATION OF REALTORS®.
Section 3: Any REALTOR® Member of the Board may be disciplined by the
Board of Directors for violations of the Code of Ethics or other duties of membership,
after a hearing as described in the Code of Ethics and Arbitration Manual of the Board,
provided that the discipline imposed is consistent with the discipline authorized by the
Professional Standards Committee of the NATIONAL ASSOCIATION OF
REALTORS® as set forth in the Code of Ethics and Arbitration Manual of the National
Association.
Section 4: Resignations of Members shall become effective when received in
writing by the Board of Directors, provided, however, that if any Member submitting the
resignation is indebted to the Board for dues, fees, fines, or other assessments of the
Board, the Board shall condition the right of the resigning Member to reapply for
membership upon payment in full of all such moneys owed.
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Section 5: If a Member resigns from the Board or otherwise causes membership
to terminate with an ethics complaint pending, the Board of Directors may condition the
right of the resigning Member to reapply for membership upon the applicant’s
certification that he/she will submit to the pending ethics proceeding and will abide by the
decision of the hearing panel.
(a) If a member resigns or otherwise causes membership to terminate, the duty to
submit to arbitration continues in effect even after membership lapses or is terminated,
provided that the dispute arose while the former member was a REALTOR®.
Section 6: REALTOR® Members REALTOR® Members, whether primary or
secondary, in good standing whose financial obligations to the Board are paid in full,
shall be entitled to vote and to hold elective office in the Board; may use the terms
REALTOR® and REALTORS®, which use shall be subject to the provisions of Article
VIII; and have the primary responsibility to safeguard and promote the standards,
interests, and welfare of the Board and the real estate profession.
(a) If a REALTOR® Member is a sole proprietor in a firm, a partner in a
partnership or an officer in a corporation, and is suspended or expelled, the firm,
partnership or corporation shall not use the terms REALTOR® or REALTORS® in
connection with its business during the period of suspension, or until re-admission to
REALTOR® membership, or unless connection with the firm, partnership or corporation
is severed, or management control is relinquished, whichever may apply. The
membership of all other principals, partners, or corporate officers shall suspend or
terminate during the period of suspension of the disciplined Member, or until readmission
of the disciplined Member or unless connection of the disciplined Member
with the firm, partnership, or corporation is severed, or unless the REALTOR® who is
suspended or expelled removes himself from any form or degree of management control
of the firm for the term of the suspension or until re-admission to membership,
whichever may apply. Removal of the individual from any form or degree of
management control must be certified to the Board by the Member who is being
suspended or expelled and by the individual who is assuming management control, and
the signatures of such certification must be notarized. In the event the suspended or
expelled Member is so certified to have relinquished all form or degree of management
control of the firm, the membership of other partners, corporate officers, or other
individuals affiliated with the firm shall not be affected, and the firm, partnership or
corporation may continue to use the terms REALTOR® or REALTORS® in connection
with its business during the period of suspension or until the former Member is admitted
to membership in the Board. The foregoing is not intended to preclude a suspended or
expelled Member from functioning as an employee or independent contractor, providing
no management control is exercised. Further, the membership of REALTORS® other
than principals who are employed or affiliated as independent contractors with the
disciplined Member shall suspend or terminate during the period of suspension of the
disciplined Member or until re-admission of the disciplined Member, or unless
connection of the disciplined Member with the firm, partnership, or corporation is
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severed, or management control is relinquished, or unless the REALTOR® Member
(non-principal) elects to sever his connection with the REALTOR® and affiliate with
another REALTOR® Member in good standing in the Board, whichever may apply. If a
REALTOR® Member other than a sole proprietor in a firm, partner in a partnership, or
an officer of a corporation is suspended or expelled, the use of the terms REALTOR® or
REALTORS® by the firm, partnership or corporation shall not be affected.
(b) In any action taken against a REALTOR® Member for suspension or
expulsion under Section 6(a) hereof, notice of such action shall be given to all
REALTORS® employed by or affiliated as independent contractors with such
REALTOR® Member and they shall be advised that the provisions in Article VI, Section
6(a) shall apply.
Section 7: Institute Affiliate Members Institute Affiliate Members shall have
rights and privileges and be subject to obligations prescribed by the Board of Directors
consistent with the Constitution and Bylaws of the NATIONAL ASSOCIATION OF
REALTORS®.
NOTE: Local associations establish the right and privileges to be conferred on Institute
Affiliate Members except that no Institute Affiliate Member may be granted the right to
use the term REALTOR, REALTOR-ASSOCIATE, or the REALTOR logo; to
serve as President of the local association; or to be a Participant in the local association’s
Multiple Listing Service. (Amended 1/02)
Section 8: Allied Members Allied Members shall have rights and privileges and
be subject to obligations prescribed by the Board of Directors.
Section 9: Public Service Members Public Service Members shall have rights
and privileges and be subject to obligations prescribed by the Board of Directors.
Section 10: Honorary Members Honorary Membership shall confer only the
right to attend meetings and participate in discussions.
Section 11: Student Members Student Members shall have rights and
privileges and be subject to obligations prescribed by the Board of Directors.
Section 12: Life Members Life Members shall have rights and privileges and be
subject to obligations prescribed by the Board of Directors.
Section 13: Certification by REALTOR® “Designated” REALTOR®
Members of the Board shall certify to the Board during the month of October of each year
on a form provided by the Board a complete listing of all individuals licensed or certified
in the REALTOR®’s office(s) and shall designate a primary Board for each individual
who holds membership. Designated REALTORS® shall also identify any non-member
licensees in the REALTOR®’s office(s) and if Designated REALTOR® Dues have been
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paid to another Board based on said non-member licensees. The Designated REALTOR®
shall identify the Board to which dues have been remitted. These declarations shall be
used for purposes of calculating dues under Article X, Section 2 of the Bylaws.
“Designated” REALTOR® Members shall also notify the Board of any additional
individual(s) licensed or certified with the firm(s) within thirty (30) days of the date of
affiliation or severance of the individual.
Section 14: Legal Liability Training Within four years of the date of election to
membership, and every four years thereafter, each REALTOR® Member of the Board
shall be required to demonstrate that they have completed a course of instruction on antitrust
laws, agency laws, civil rights laws or the REALTORS® Code of Ethics, its
interpretation and meaning and/or the procedures related to its enforcement. This
requirement will be considered satisfied upon presentation of evidence that the member
has completed an educational program conducted by another Member Board, the State
Association of REALTORS®, the NATIONAL ASSOCIATION OF REALTORS® or
any of its affiliated institutes, societies or councils, or any other recognized educational
institution which, in the opinion of the Board of Directors, is an adequate substitute for
the training programs conducted by the Board. Failure to satisfy this requirement every
four years will result in membership being suspended from the date it otherwise would be
renewed until such time that the member provides evidence of completion of the
aforementioned educational requirements.
NOTE: Any education requirement must comply with Interpretation No. 37 of
Article I, Section 2, Bylaws, NATIONAL ASSOCIATION OF REALTORS®.
Section 15: Harassment Any member of the Association may be reprimanded,
placed on probation, suspended or expelled for harassment of an Association or MLS
employee or Association Officer or Director after an investigation in accordance with the
procedures of the Association. As used in this Section, harassment means any verbal or
physical conduct including threatening or obscene language, unwelcome sexual advances,
stalking, actions including strikes, shoves, kicks, or other similar physical contact, or
threats to do the same, or any other conduct with the purpose or effect of unreasonably
interfering with an individual’s work performance by creating a hostile, intimidating or
offensive work environment. The decision of the appropriate disciplinary action to be
taken shall be made by the investigatory team comprised of the President, and Presidentelect
and/or Vice President and one member of the Board of Directors selected by the
highest ranking officer not named in the complaint, upon consultation with legal counsel
for the Association. Disciplinary action may include any sanction authorized in the
Association’s Code of Ethics and Arbitration Manual. If the complaint names the
President, President-Elect or Vice President, they may not participate in the proceedings
and shall be replaced by the Immediate Past President or, alternatively, by another
member of the Board of Directors selected by the highest ranking officer not named in the
complaint.
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Note: Suggested procedures for processing complaints of harassment are
available on line at http//www.REALTOR.org, or from the Member Policy Department.
Article VII: Professional Standards and Arbitration
Section 1: The responsibility of the Board and of Board Members relating to the
enforcement of the Code of Ethics, the disciplining of members, and the arbitration of
disputes, and the organization and procedures incident thereto, shall be governed by the
Code of Ethics and Arbitration Manual of the NATIONAL ASSOCIATION OF
REALTORS®, as amended from time to time, which is by this reference incorporated
into these Bylaws, provided, however, that any provision deemed inconsistent with state
law shall be deleted or amended to comply with state law.
Section 2: It shall be the duty and responsibility of every REALTOR® Member
of this Board to abide by the Constitution and Bylaws and the Rules and Regulations of
the Board, the Constitution and Bylaws of the State Association, the Constitution and
Bylaws of the NATIONAL ASSOCIATION OF REALTORS®, and to abide by the Code
of Ethics of the NATIONAL ASSOCIATION OF REALTORS®, including the duty to
arbitrate controversies arising out of real estate transactions as specified by Article 17 of
the Code of Ethics, and as further defined and in accordance with the procedures set forth
in the Code of Ethics and Arbitration Manual of this Board as from time to time
amended.
Article VIII: Use of the Terms REALTOR® and REALTORS®
Section 1: Use of the terms REALTOR® and REALTORS® by Members shall,
at all times, be subject to the provisions of the Constitution and Bylaws of the
NATIONAL ASSOCIATION OF REALTORS® and to the Rules and Regulations
prescribed by its Board of Directors. The Board shall have the authority to control,
jointly and in full cooperation with the NATIONAL ASSOCIATION OF REALTORS®,
use of the terms within its jurisdiction. Any misuse of the terms by members is a
violation of a membership duty and may subject members to disciplinary action by the
Board of Directors after a hearing as provided for in the association’s Code of Ethics and
Arbitration Manual.
Section 2: REALTOR® Members of the Board shall have the privilege of using
the terms REALTOR® and REALTORS® in connection with their places of business
within the state or a state contiguous thereto so long as they remain REALTOR®
Members in good standing. No other class of Members shall have this privilege.
Section 3: A REALTOR® Member who is a principal of a real estate firm,
partnership, or corporation may use the terms REALTOR® and REALTORS® only if all
the principals of such firm, partnership, or corporation who are actively engaged in the
real estate profession within the state or a state contiguous thereto are REALTOR®
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Members of the Board or Institute Affiliate Members as described in Section 1(b) of
Article IV.
(a) In the case of a REALTOR® member who is a principal of a real estate firm,
partnership, or corporation whose business activity is substantially all commercial, the
right to use the term REALTOR® OR REALTORS® shall be limited to office locations
in which a principal, partner, corporate officer, or branch office manager of the firm,
partnership, or corporation holds REALTOR® membership. If a firm, partnership, or
corporation operates additional places of business in which no principal, partner,
corporate officer, or branch office manager holds REALTOR® membership, the term
REALTOR® or REALTORS® may not be used in any reference to those additional
places of business. (Amended 1/01)
Section 4: Institute Affiliate Members shall not use the terms REALTOR® or
REALTORS®, nor the imprint of the emblem seal of the NATIONAL ASSOCIATION
OF REALTORS®.
Article IX: State and National Memberships
Section 1: The Board shall be a member of the NATIONAL ASSOCIATION OF
REALTORS® and the North Carolina Association of REALTORS®. By reason of the
Board’s Membership, each REALTOR® Member of the Member Board shall be entitled
to membership in the NATIONAL ASSOCIATION OF REALTORS® and the North
Carolina Association of REALTORS® without further payment of dues. The Board shall
continue as a Member of the State and National Associations, unless by a majority vote of
all of its REALTOR® Members, decision is made to withdraw, in which case the State
and National Associations shall be notified at least one (1) month in advance of the date
designated for the termination of such membership.
Section 2: The Board recognizes the exclusive property rights of the NATIONAL
ASSOCIATION OF REALTORS® in the terms REALTOR® and REALTORS®. The
Board shall discontinue use of the terms in any form in its name, upon ceasing to be a
Member of the National Association, or upon a determination by the Board of Directors
of the National Association that it has violated the conditions imposed upon the terms.
Section 3: The Board adopts the Code of Ethics of the NATIONAL
ASSOCIATION OF REALTORS® and agrees to enforce the Code among its
REALTOR® Members. The Board and all of its Members agree to abide by the
Constitution, Bylaws, Rules and Regulations, and policies of the National Association
and the North Carolina Association of REALTORS®.
Article X: Dues and Assessments
Section 1: Application Fee The Board of Directors may adopt an application fee
for REALTOR® Membership in a reasonable amount, not exceeding three times the
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amount of the annual dues for REALTOR® Membership, which shall be required to
accompany each application for REALTOR® Membership and which shall become the
property of the Board upon final approval of the application.
Section 2: Dues
(a) The annual dues of each Designated REALTOR® Member shall be in such
amount as established annually by the Board of Directors, plus an additional amount to be
established annually by the Board of Directors times the number of real estate
salespersons and licensed or certified appraisers who (1) are employed by or affiliated as
independent contractors, or who are otherwise directly or indirectly licensed with such
REALTOR® Member, and (2) are not REALTOR® Members of any Board in the state
or a state contiguous thereto or Institute Affiliate Members of the Board. In calculating
the dues payable to the Board by a Designated REALTOR® Member, non-member
licensees as defined in Section 2 (1) and (2) of this Article shall not be included in the
computation of dues if the Designated REALTOR® has paid dues based on said nonmember
licensees in another Board in the state or a state contiguous thereto, provided the
Designated REALTOR® notifies the Board in writing of the identity of the Board to
which dues have been remitted. In the case of a Designated REALTOR® Member in a
firm, partnership, or corporation whose business activity is substantially all commercial,
any assessments for non-member licensees shall be limited to licensees affiliated with the
Designated REALTOR® (as defined in (1) and (2) of this paragraph) in the office where
the Designated REALTOR® holds membership, and any other offices of the firm located
within the jurisdiction of the Board. (Amended 1/01)
(b) For the purpose of this Section, a REALTOR® Member of a Member Board
shall be held to be any Member who has a place or places of business within the state or a
state contiguous thereto and who, as a principal, partner, corporate officer, or branch
office manager of a real estate firm, partnership, or corporation, is actively engaged in the
real estate profession as defined in Article III, Section l, of the Constitution of the
NATIONAL ASSOCIATION OF REALTORS®. An individual shall be deemed to be
licensed with a REALTOR® if the license of the individual is held by the REALTOR®,
or by any broker who is licensed with the REALTOR®, or by any entity in which the
REALTOR® has a direct or indirect ownership interest and which is engaged in other
aspects of the real estate business provided that such licensee is not otherwise included in
the computation of dues payable by the principal, partner, or corporate officer of the
entity.
A REALTOR® with a direct or indirect ownership interest in an entity engaged
exclusively in soliciting and/or referring clients and customers to the REALTOR® for
consideration on a substantially exclusive basis shall annually file with the association on
a form approved by the association a list of the licensees affiliated with that entity and
shall certify that all of licensees affiliated with the entity are solely engaged in referring
clients and customers and are not engaged in listing, selling, leasing, managing,
counseling or appraising real property. The individuals disclosed on such form shall not
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be deemed to be licensed with the REALTOR® filling the form for purposes of the
Section and shall not be included in calculating the annual dues of the Designated
REALTOR®.
Membership dues shall be prorated for any licensee included on a certification form
submitted to the association who during the same calendar year applies for REALTOR®
or REALTOR-ASSOCIATE® membership in the association. However, membership
dues shall not be prorated if the licensee held REALTOR® or REALTORASSOCIATE
® membership during the preceding calendar year.
(c) The dues of each REALTOR® Member, other than the Designated
REALTOR®, shall be in such amount as established annually by the Board of Directors.
(d) The dues of each Institution Affiliate Member shall be in such amount as
established in Article II of the Bylaws of the NATIONAL ASSOCIATION OF
REALTOR.
(e) The dues of each Affiliate Member shall be in such amount as established
annually by the Board of Directors.
(f) The dues of each Public Service Member shall be in such amount as
established annually by the Board of Directors.
(g) The dues of each Honorary Member shall be in such amount as established
annually by the Board of Directors.
(h) The dues of each Student Member shall be in such amount as established
annually by the Board of Directors.
(i) The dues of each Life Member shall be in such amount as established annually
by the Board of Directors.
NOTE: The Institutes, Societies and Councils of the National Association shall be
responsible for collecting and remitting dues to the National Association for Institute
Affiliate Members ($75.00). The National Association shall credit $25.00 to the account
of the local association for each Institute Affiliate Member whose office address is within
the assigned territorial jurisdiction of that association, provided, however, if the office
location is also within the territorial jurisdiction of a Commercial Overlay Board (COB),
the account will be credited to the COB, unless the Institute Affiliate Member directs that
the dues be distributed to the other board. The National Association shall also credit
$25.00 to the account of state associations for each Institute Affiliate Member whose
office address is located within the territorial jurisdiction of the state association. Local
and state associations may not establish any additional entrance, initiation fees or dues for
Institute Affiliate Members, but may provide service packages to which Institute Affiliate
Members may voluntarily subscribe. (Amended 1/02)
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Section 3: Dues Payable Dues for all Members shall be payable annually in
advance on the first day of January, or as otherwise determined by the Board. Without
limiting the foregoing, Dues may be payable in installments, as determined by the Board.
Dues shall be computed from the first day of the month in which a Member is notified of
election and shall be prorated for the remainder of the year.
Section 4: Non-payment of Financial Obligations
(a) If membership dues, fees, fines, or other assessments including amounts owed
to the Board are not paid within one (1) month after the due date, the non-paying Member
is subject to suspension at the discretion of the Board of Directors. Two(2) months after
the due date, membership of the non-paying Member may be terminated at the discretion
of the Board of Directors. Three (3) months after the due date, membership of the nonpaying
Member shall automatically terminate unless within that time the amount due is
paid. However, no action shall be taken to suspend or expel a Member for non-payment
of disputed amounts until the accuracy of the amount owed has been confirmed by the
Board of Directors. A former member who has had his membership terminated for nonpayment
of dues, fees, fines, or other assessments duly levied in accordance with the
provisions of these Bylaws or the provisions of other Rules and Regulations of the Board
any of its services, departments, divisions or subsidiaries may apply for reinstatement in
the manner prescribed for new applicants for membership after making payment in full of
all accounts due as of the date of termination.
(b) If payment for annual dues is not received by January 1st, a late charge shall
be assessed, in an amount to be established by the Board of Directors.
Section 5: Deposit All moneys received by the Board for any purpose shall be
deposited to the credit of the Board in a financial institution or institutions selected by
resolution of the Board of Directors.
Section 6: Expenditures The Board of Directors shall administer the finances
of the Board. The Board of Directors may not obligate the corporation to any current or
long-term expenditure that exceeds 5% of the “Total Expenses” in the approved current
year budget.
Section 7: Notice of Dues, Fees, Fines, Assessments, and Other Financial
Obligations of Members All dues, fees, fines, assessments, or other financial
obligations to the Board or any of the Board subsidiaries shall be notified to the
delinquent Board Member in writing setting forth the amount owed and the due date.
Section 8: The dues of REALTOR® Members who are REALTOR® Emeriti (as
recognized by the National Association), Past Presidents of the National Association or
recipients of the Distinguished Service Award shall be as determined by the Board of
Directors.
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NOTE: A Member Board’s dues obligation to the National Association is reduced by
an amount equal to the amount which the Board is assessed for a REALTOR®
Member, times the number of REALTOR® Emeriti (as recognized by the National
Association), Past Presidents of the National Association, and recipients of the
Distinguished Service Award of the National Association who are REALTOR®
Members of the Board. The dues obligation of such individuals to the local Board
should be reduced to reflect the reduction in the Board’s dues obligation to the
National Association. The Board may, at its option, choose to have no dues
requirement for such individuals except as may be required to meet the Board’s
obligation to the State Association with respect to such individuals. Member Boards
should determine whether the dues payable by the Board to the State Association are
reduced with respect to such individuals. It should be noted that this does not affect a
“designated” REALTOR®’s dues obligation to the Board with respect to those
licensees employed by or affiliated with the “designated” REALTOR® who are not
Members of the local Board.
Article XI: Officers and Directors
Section 1: Officers The elected officers of the Board shall be: A President, a
President-Elect, a Secretary, and a Treasurer. The Secretary and Treasurer may be the
same person. They shall be elected for terms of one (1) year.
Section 2: Duties of Officers The duties of the officers shall be such as their
titles, by general usage, would indicate and such as may be assigned to them by the Board
of Directors. It shall be the particular duty of the Secretary to keep the records of the
Board and carry on all necessary correspondence with the NATIONAL ASSOCIATION
OF REALTORS® and the North Carolina Association of REALTORS®. It shall be the
duty of the President-Elect to assist the President in the administration of the Board,
preside at all Membership meetings, all Executive Committee meetings and Board of
Director meetings in the absence of the President. The President-Elect will be an exofficio
member of all standing and special committees, except the Election Committee
and the Nominating Committee. The President-Elect shall succeed to the office of
President, unless the Nominating Committee and the Board of Directors determines that
such succession would not be in the best interest of the Board, as set forth in the Removal
of Officers and Directors provisions of these Bylaws. If the office of President should
become vacant between elections, the President-Elect shall fill the vacancy and complete
the unexpired term. (9-18-96).
Section 3: Board of Directors The governing body of the Board shall be a
Board of Directors consisting of the elected officers and seven (7) REALTOR® Members
of the Board, provided however, that upon the merger of the Board with another board or
association of Realtors® (the “Merging Association”), the number of persons constituting
the Board of Directors shall be increased by one (1), and, for a period of three (3) years
following any such merger, one (1) member of the Board of Directors shall be elected
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from within the territorial jurisdiction of the Merging Association. Provided, however,
that the number of persons constituting the Board of Directors shall not exceed twenty
(20). The immediate past President of the Board shall be an ex-officio, voting member of
the Board of Directors for a term of one (1) year immediately after her/his term as
President. The President of ABR Services, Inc., shall serve as an ex-officio, voting
member of the Board of Directors during her/his term as President. Directors shall be
elected to serve for terms of three (3) years, except that at inception, one-third of the
elected Directors shall be elected for terms of one (1), two (2), and three (3) years,
respectively, or for lesser terms as may be necessary to complete the first fiscal year.
Thereafter, as many Directors shall be elected each year as are required to fill vacancies.
Section 4: Election of Officers and Directors
(a) A Nominating Committee of not less than five (5) REALTOR® Members
shall be appointed by the President with the approval of the Board of Directors. The
Nominating Committee shall be made up of two past Presidents of the Association and
three other REALTOR® Members. The Nominating Committee shall identify at least
one candidate for each office and at least one candidate for each seat to be filled on the
Board of Directors. Notice of the slate of candidates presented by the Nominating
Committee shall be given to the Members not less than sixty (60) days prior to the annual
meeting. No member of the Nominating Committee shall be eligible for nomination by
the Nominating Committee except to the office of State Director.
(b) Additional candidates for open positions on the Board of Directors and
Officers shall be placed on the ballot upon receipt of a petition executed by not less than
five percent (5%) of the REALTOR® Members and delivered to the Nominating
Committee not less than thirty (30) days prior to the annual meeting. To be effective,
such petition must be delivered in a form which permits verification of the authenticity of
the Member signatures, as reasonably determined by the Nominating Committee. The
final slate of candidates shall be published by the Nominating Committee not less than
fifteen (15) days prior to the annual meeting.
(c) The President, with the approval of the Board of Directors, shall appoint an
Election Committee of three (3) REALTOR® Members to conduct the election.
(d) The election of Officers and Directors shall be by paper or electronic ballot,
as further provided in these Bylaws. The ballot shall contain the names of all candidates
and the offices for which they are nominated. Voting may occur electronically through
the Association’s Internet Site, or in person at the annual meeting of the Board, in the
discretion of the Executive Committee. At least twenty one (21) days prior to the annual
meeting, the Executive Committee shall adopt and post the election rules and the official
ballot on the Association’s Internet Site. The election rules and ballot shall also be made
available in print format at the principal office of the Board. The election rules shall
include, without limitation, procedure for voting by those Members who are unable to
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attend the annual meeting if voting is to occur in person at such meeting, or who do not
have access to the Internet if voting is to occur electronically.
(e) Candidates receiving the largest number of votes cast are elected. In the event
of a tie vote, the election shall be determined by runoff. Election results shall be
published on the Association’s Internet Site as soon as they are available.
Section 5: Removal of Officers and Directors In the event that an Officer or
Director is deemed to be incapable of fulfilling the duties for which elected, but will not
resign from office voluntarily, the Officer or Director may be removed from office under
the following procedure:
(a) A petition requiring the removal of an Officer or Director and signed by not
less than one-third of the voting membership or a majority of all Directors shall be filed
with the President, or if the President is the subject of the petition, with the next-ranking
officer, and shall specifically set forth the reasons the individual is deemed to be
disqualified from further service.
(b) Upon receipt of the petition, and not less than twenty (20) days or more than
forty-five (45) days thereafter, a special meeting of the voting membership of the Board
shall be held, and the sole business of the meeting shall be to consider the charge against
the Officer or Director, and to render a decision on such petition.
(c) The special meeting shall be noticed to all voting Members at least ten (l0)
days prior to the meeting, and shall be conducted by the President of the Board unless the
President’s continued service in office is being considered at the meeting. In such case,
the next-ranking officer will conduct the meeting of the hearing by the Members.
Provided a quorum is present, a three-fourths vote of Members present and voting shall
be required for removal from office.
Section 6: Vacancies Vacancies among the Officers and the Board of Directors
shall be filled by a simple majority vote of the Board of Directors until the next annual
election.
Section 7: Establishment of Executive Committee The Board of Directors of
the Asheville Board of REALTORS®, Inc. designates the President, President-Elect,
Treasurer, Secretary and President of ABR Services, Inc. as the Executive Committee of
the Board of Directors. The immediate past President of the Board shall be an ex-officio,
voting member of the Executive Committee. The designation of any Executive
Committee and the delegation thereto of authority shall not operate to relieve the Board
of Directors, or any member thereof, of any responsibility or liability imposed upon it or
him by law.
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Section 8: Indemnification
(a) Any person who at any time serves or has served as a director, or officer of the
Board, or in such capacity at the request of the Board for any other Board, partnership,
joint venture, trust or other enterprise, shall have a right to be indemnified by the Board to
the fullest extent permitted by law against (a) reasonable expenses, including but not
limited to attorneys fees, actually and necessarily incurred by him or her in connection
with the defense of any threatened, pending, or completed action, suit, or proceeding in
which her or she is made a party by being or having been such Trust or Officer and (b)
reasonable payment made by him or her in satisfaction of any judgment, money decree,
fine, penalty, or settlement for which he or she may have become liable in any such
action, suit, or proceeding, provided that this right to be indemnified by the Board shall in
no event exceed that portion of reasonable expenses and reasonable payment which is in
excess of any and all available insurance proceeds.
(b) The Board of Directors of the Board shall take all such action as may be
necessary or appropriate to authorize the Board to pay the indemnification required by
this Bylaw, including without limitation, to the extent needed, making a good faith
evaluation of the manner in which the claimant for indemnity acted and of the reasonable
amount of indemnity due him or her and giving notice to, and obtaining approval by, the
shareholders of the Board.
(c) Any person who at any time after the adoption of this Bylaw served or has
served in any of the aforesaid capacities for or on behalf of the Board shall be deemed to
be doing or to have done so in reliance upon, and as consideration for, the right of
indemnification provided herein. Such right shall inure to the benefit of the legal
representative of any such person and shall not be exclusive of any other rights to which
such person may be entitled apart form the provisions of the Bylaw.
Article XII: Meetings
Section 1: Annual Meetings The annual meeting of the Board shall be held
during the month of September each year on any day other than a Saturday, Sunday or
legal holiday on a date, place and hour as designated by the Board of Directors.
Section 2: Meetings of Directors The Board of Directors shall designate a
regular time and place of meetings. Absence from three (3) consecutive regular meetings
without an excuse deemed valid by the Board of Directors shall be construed as
resignation.
Section 3: Other Meetings Meetings of the Members may be held at such other
times as the President or the Board of Directors may determine, or upon the written
request of at least ten percent (10%) of the Members eligible to vote.
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Section 4: Notice of Meetings
(a) Written notice shall be given to every Member entitled to participate in the
meeting at least one (1) week preceding all meetings. Notice may be communicated in
person; by telephone, telegraph, or other form of wire or wireless communication,
including electronic mail, or by facsimile transmission; or by mail or private carrier. If a
special meeting is called it shall be accompanied by a statement of the purpose for the
meeting.
(b) Written notice shall be waived of all regular scheduled meetings of Members,
except those at which a specific item of business affecting the position of the Board, its
Bylaws, Policies of the Board, or Officers of the Board is to be voted upon. Written
notice of these meetings shall be given in conformity with the Bylaws and Policies of the
Board.
Section 5: Quorum A quorum for the transaction of business at any regular or
called meeting of the Members of the Association shall consist of five percent (5%) of
the REALTOR® Members in good standing and eligible to vote. Six (6) Members of the
Board of Directors shall constitute a quorum for the transaction of business pertinent to
the Board of Directors.
Section 6: Voting by Proxy Voting by proxy shall not be allowed for the
transaction of business at a membership meeting of the Asheville Board of
REALTORS®.
Section 7: Electronic Transaction of Business The Board of Directors and the
Members may conduct the business of the Association by electronic means, including,
without limitation, voting by electronic ballot or other electronic means, to the fullest
extent permitted by law and otherwise in accordance with the policies of the Association.
Article XIII: Committees
Section 1: Standing Committees
(a) The President shall appoint from among the Members, subject to confirmation
by the Board of Directors, the following Standing committees:
1. Education 3. Legislative 5. Grievance
2. Finance 4. Professional Standards
6. Commercial and Investment Committee 7. Eco Committee
(b) The Chairman of the Standing committees shall be a REALTOR® Member.
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Section 2: Special Committees The President shall appoint, subject to
confirmation by the Board of Directors, Special Committees as deemed necessary.
Section 3: Organization All committees shall be of such size and shall have
duties, functions, and powers as assigned by the President or the Board of Directors,
except as otherwise provided in these Bylaws.
Section 4: President The President and President-Elect shall be ex-officio
members of all Standing Committees and shall be notified of their meetings.
Section 5: Removal of Committee Members The President, with the approval
of the Board of Directors, shall have the right and privilege to remove any member
serving on a Special or Standing Committee, when in his judgment, he determines that
said member has failed to function on said Committee. The Committee Chairman shall
designate a regular time and place of the meeting. Absence from two consecutive
meetings, without excuse deemed valid by the Chairman, shall constitute resignation.
The President shall appoint a replacement.
Section 6: Quorum for Committees A quorum for the transaction of business
by any Standing committee or Special Committee, with the exception of the Professional
Standards Committee and Grievance Subcommittee, shall consist of more than one-third
(1/3) of the members of the committee eligible to vote. (9-18-96)
Article XIV: Fiscal and Elective Year
Section 1: The fiscal and elective year of the Board shall be the calendar year.
Article XV: Rules of Order
Section 1: Roberts’ Rules of Order, latest edition, shall be recognized as the
authority governing the meetings of the Board, its Board of Directors, and Committees, in
all instances wherein its provisions do not conflict with these Bylaws.
Article XVI: Amendments
Section 1: These Bylaws may be amended by the majority vote of the Members
present and qualified to vote at any meeting at which a quorum is present, provided the
substance of such proposed amendment or amendments shall be plainly stated in the call
for the meeting, except that the Board of Directors may, at any regular or special meeting
of the Board of Directors at which a quorum is present, approve amendments to the
Bylaws which are mandated by NAR policy.
Section 2: Notice of all meetings at which amendments are to be considered shall
be mailed to every REALTOR® Member eligible to vote at least one (1) week prior to
the meeting.
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Section 3: Amendments to these Bylaws affecting the admission or qualification
of REALTOR® and Institute Affiliate Members, the use of the terms REALTOR® and
REALTORS®, or any alteration in the territorial jurisdiction of the Board shall become
effective upon their approval as authorized by the Board of Directors of the NATIONAL
ASSOCIATION OF REALTORS®.
Section 4: The Executive Officer shall maintain a policy manual containing the
policies and procedures of the Board. The Executive Officer shall advise the Board of
Directors of the policies contained within the manual. The Board of Directors may add,
delete, or alter policies of the Board by a majority vote of the Directors present and voting
at any regular or called meeting of the Board of Directors.
Article XVII: Dissolution
Section 1: Upon the dissolution or winding up of affairs of this Board, the Board
of Directors, after providing for the payment of all obligations, shall distribute any
remaining assets to the North Carolina Association of REALTORS® or, within its
discretion, to any other nonprofit tax exempt organization.
Article XVIII: Multiple Listing
Section 1: Authority The Board of REALTORS® shall maintain for the use of
its Members and the REALTOR® Members of any other Board a Multiple Listing
Service which shall be conducted under a limited liability company or corporation duly
authorized and existing under the laws of the State of North Carolina. In the discretion of
the Board, the entity conducting the Multiple Listing Service may be wholly-owned by
the Asheville Board of REALTORS®, Inc., or may be owned by the Asheville Board of
REALTORS®, Inc., together with such other Boards of REALTORS® situated within
the western region of North Carolina as the Board may determine to be appropriate for
the orderly and efficient governance of the Multiple Listing Service, and in accordance
with the Purpose set forth in Section 2.
Section 2: Purpose A Multiple Listing Service is a means by which authorized
Participants make blanket unilateral offers of compensation to other Participants (acting
as subagents, buyer agents, or in other agency or non-agency capacities defined by law);
by which cooperation among participants is enhanced; by which information is
accumulated and disseminated to enable authorized Participants to prepare appraisals,
analyses, and other valuations of real property for bona fide clients and customers; by
which Participants engaging in real estate appraisal contribute to common data bases; and
is a facility for the orderly correlation and dissemination of listing information so
participants may better serve their clients and the public. Entitlement to compensation is
determined by the cooperating broker’s performance as a procuring cause of the sale (or
lease).
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Section 3: Governing Documents The Board of Directors shall cause any
Multiple Listing Service established by it pursuant to this Article to conform its
Corporate Charter, Constitution, Bylaws, Rules, Regulations, and Policies, Practices, and
Procedures at all times to the Constitution, Bylaws, Rules, Regulations, and Policies of
the NATIONAL ASSOCIATION OF REALTORS®.
Section 4: Participation Any REALTOR® of this or any other Board who is a
principal, partner, or corporate officer, or branch manager acting on behalf of the
principal, without further qualifications, except as otherwise stipulated in these Bylaws,
shall be eligible to participate in Multiple Listing upon agreeing in writing to conform to
the Rules and Regulations thereof and to pay the costs incidental thereto. However,
under no circumstances is any individual or firm, regardless of membership status,
entitled to Multiple Listing Service “Membership” or “Participation” unless they hold a
current, valid North Carolina Real Estate Broker’s License and offer or accept
compensation to and from other participants or are licensed or certified by an appropriate
state regulatory agency to engage in the appraisal of real property. Use of information
developed by or published by a Board Multiple Listing Service is strictly limited to the
activities authorized under a Participant’s licensure(s) or certification and unauthorized
uses are prohibited. Further, none of the foregoing is intended to convey “participation”,
or “Membership” or any right of access to information developed or published by a Board
Multiple Listing Service where access to such information is prohibited by law. (*)(See
NOTE at conclusion of this Article.)
Mere possession of a Broker’s license is not sufficient to qualify for Multiple
Listing Service participation. Rather, the requirement that an individual or firm offers or
accepts cooperation and compensation means that the participant actively endeavors
during the operation of its real estate business to list real property of the type listed on the
Multiple Listing Service and/or to accept offers of cooperation and compensation made
by listing Brokers or Agents in the Multiple Listing Service. “Actively” means on a
continual and ongoing basis during the operation of the Participant’s real estate business.
The “actively” requirement is not intended to preclude Multiple Listing Service
participation by a participant or potential participant that operates a real estate business on
a part-time, seasonal, or similarly time-limited basis, or that has its business interrupted
by period of relative inactivity occasioned by market conditions. Similarly, the
requirement is not intended to deny Multiple Listing Service participation to a Participant
or potential participant who has not achieved a minimum number of transactions despite
good faith efforts. Nor is it intended to permit an Multiple Listing Service to deny
participation based on the level of service provided by the Participant or potential
participant as long as the level of service satisfies state law.
The key is that the Participant or potential participant actively endeavors to make
or accept offers of cooperation and compensation with respect to properties of the type
that are listed on the Multiple Listing Service in which participation is sought. This
requirement does not permit a Multiple Listing Service to deny participation to a
Participant or potential participant that operates a “Virtual Office Website” (VOW)
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(including a VOW that the Participant uses to refer customers to other Participants) if the
Participant or potential participant actively endeavors to make or accept offers of
cooperation and compensation. A Multiple Listing Service may evaluate whether a
Participant or potential participant actively endeavors during the operation of its real
estate business to offer or accept cooperation and compensation only if the Multiple
Listing Service has a reasonable basis to believe that the Participant or potential
participant is in fact not doing so. The membership requirement shall be applied in a
nondiscriminatory manner to all Participants and potential participants.
Section 5: Access to Comparable and Statistical Information Board members
who are actively engaged in real estate brokerage, management, mortgage financing,
appraising, land development or building, but who do not participate in the Multiple
Listing Service, are nonetheless entitled to receive, by purchase or lease, information
other than current listing information that is generated wholly or in part by the Multiple
Listing Service including “comparable” information, “sold” information, and statistical
reports. This information is provided for the exclusive use of Board Members and
individuals affiliated with Board Members who are also engaged in the real estate
business and may not be transmitted, retransmitted, or provided in any manner to any
unauthorized individual, office or firm except as otherwise specified in the Multiple
Listing Service Rules and Regulations. Board Members who receive such information,
either as a Board service or through the Boards Multiple Listing Service, are subject to
the applicable provisions of the Multiple Listing Service Rules and Regulations whether
they participate in the Multiple Listing Service or not.
Section 6: Subscribers Subscribers (or users) of the MLS include non-principal
brokers, sales associates, and licensed and certified appraisers affiliated with Participants
(*)NOTE: Generally, Boards of REALTORS®, when there is more than one
principal in a real estate firm, define the chief principal officer of the firm as the
MLS “Participant.” Brokers or sales persons other than principals are not
considered “Participants” in the Service, but have access to and use of the Service
through the principal(s) with whom they are affiliated.
Article XIX: Information Technology Services and Other Activities
Section 1: Authority The Board Of REALTORS® shall have the authority to
establish, maintain, and conduct a lawful corporation organized under the laws of the
State of North Carolina for the purpose of operating the Real Estate Weekly or other
Information Technology Services activities published by the Board, and such other
activities as may be expressly recommended by the Board of Directors of the Asheville
Board of REALTORS®, Inc., and approved by a majority vote of the REALTOR®
Members of the Board present at a meeting and eligible to vote. The publication of the
Real Estate Weekly and other Information Technology Services activities expressly
approved in accordance with this Article XIX may be conducted under the same
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corporation organized to provide a Multiple Listing Service in accordance with Article
XVIII.
Article XX: Commercial and Investment Division
Section 1: Authority The Asheville Board of REALTORS® shall operate a
Commercial and Investment Division (CID) for the use of its members, which shall be
subject to the bylaws of the Asheville Board of REALTORS® and such rules and
regulations as may be hereinafter adopted.
Section 2: Purpose The purpose of the Division shall be to provide specialized
services to Board Members engaged in commercial real estate.
Section 3: Membership Membership in the Commercial and Investment
Division is available to all REALTOR®, REALTOR-ASSOCIATE® (if applicable)
members (primary or secondary) of the Board without further qualification, except as
stipulated in the rules and regulations*, upon agreeing in writing to conform to the rules
and regulations of the division and to pay the costs incidental thereto, if applicable.
*Boards may establish prerequisites for membership in the CID beyond those ordinarily
required for membership in a Board of REALTORS®. However, if the CID operates a
multiple listing service, participation in the MLS must be available to all REALTOR®
members of this or any other board who are principals, partners, corporate officers, or
branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on
Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise
qualified members of contiguous (or non-contiguous) Member Boards of the National
Association who hold membership in their primary Board.
Section 4: Supervision The Commercial and Investment Division shall be
operated under the supervision of the Commercial and Investment Committee in
accordance with the rules and regulations, subject to the approval of the Board of
Directors of the Asheville Board of REALTORS®.
Section 5: Appointment of Committee The President shall appoint, subject to
confirmation by the Board of Directors, a Commercial and Investment Committee of a
minimum of seven (7) Members. The committee Members so named shall serve one-year
terms. The Committee shall select its Chairman from among the members thereof.
Section 6: Vacancies Vacancies in un-expired terms shall be filled as in the case
of original appointees.
Section 7: Attendance Any Committee Member who fails to attend three (3)
consecutive regular or special meetings of the Committee, without excuse acceptable to
the Chairman of the Committee, shall be deemed to have resigned from the Committee
and the vacancy shall be filled as herein provided for original appointees.
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Article XXI: Eco Division
Section 1: Authority The Board shall operate a division of the Board (the “Eco
Division”) for the use of its Members, which shall be subject to these Bylaws, and such
rules and regulations as may be hereinafter adopted.
Section 2: Purpose The Purpose of the Eco Division shall be to provide
specialized services to Members of the Board who have received the ECO Certification
from the Board, and those Members who have not yet received such certification, but
have completed not less than four (4) hours of credit towards the ECO Certification, and
otherwise qualify for membership in accordance with the rules and regulations of the Eco
Division.
Section 3: Membership Membership in the Eco Division shall be available to
all REALTOR® Members of the Board without further qualification, except as stipulated
in this Article and in the rules and regulations, upon agreeing in writing to conform to the
rules and regulations of the Eco Division, and to pay the costs incidental thereto, if
applicable. Further, the Board may, at its option, offer membership in the Eco Division to
otherwise qualified members of contiguous (or non-contiguous) Member Boards of the
National Association who hold membership in their primary Board.
Section 4: Supervision The Eco Division shall be operated under the direction
and supervision of the Board of Directors and the Eco Division Committee in accordance
with these Bylaws and the duly adopted rules and regulations of the Board.
Section 5: Appointment of Committee The Eco Division Committee shall be a
standing Committee of the Board in accordance with Article XIII of these Bylaws. The
President shall appoint from among the Members of the Eco Division, subject to
confirmation by the Board of Directors, the Eco Division Committee consisting of not
less than seven (7) members. The Eco Division Committee members so named shall
serve a term of one (1) year, and may serve consecutive terms, provided that no
Committee member may serve more than three (3) successive terms. The Eco Division
Committee shall select its chairman from among the members thereof.
Section 6: Vacancies; Removal The removal and replacement, whether
following removal or resignation, of a member of the Eco Division Committee shall be in
accordance with Article XIII of these Bylaws.