Bylaws of the Chapel Hill Board of REALTORS^®
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TABLE OF CONTENTS

ARTICLE I - NAME

ARTICLE II - OBJECTIVES

ARTICLE III - JURISDICTION

ARTICLE IV - MEMBERSHIP

ARTICLE V - QUALIFICATION AND ELECTION

ARTICLE VI - PRIVILEGES AND OBLIGATIONS

ARTICLE VII - PROFESSIONAL STANDARDS AND ARBITRATION

ARTICLE VIII - USE OF THE TERMS REALTOR AND REALTORS

ARTICLE IX - STATE AND NATIONAL MEMBERSHIPS

ARTICLE X - DUES AND ASSESSMENTS

ARTICLE XI - OFFICERS AND DIRECTORS

ARTICLE XII - MEETINGS

ARTICLE XIII - COMMITTEES

ARTICLE XIV - FISCAL AND ELECTIVE YEAR

ARTICLE XV - RULES OF ORDER

ARTICLE XVI - GENERAL PROVISIONS

ARTICLE XVII - AMENDMENTS

ARTICLE XVIII - DISSOLUTION

ARTICLE XIX - MULTIPLE LISTING

Bylaws of the
Chapel Hill Board of REALTORS ^®

• ARTICLE I - NAME
  
  
  • Section 1. Name. The name of this organization shall be the CHAPEL HILL BOARD OF REALTORS®, hereafter 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.
    
    
  • Section 2. To promote and maintain high standards of conduct in the real estate profession 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 all of Orange County in the state of North Carolina as allocated by the NATIONAL ASSOCIATION OF REALTORS®.
    
    
  • Section 2. Territorial jurisdiction is defined to mean: The right and duty to control the use of the term 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 several classes of Members as follows:
    
    
    • (a) REALTOR® MEMBERS. REALTOR® Members whether primary or secondary shall be:
      
      
      • (1) Individuals who, as sole proprietors, partners, or corporate officers, or branch officers are engaged actively in the real estate profession, including buying, selling, exchanging, renting or leasing, managing, appraising for others for compensation, counseling, or financing, 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 state contiguous there to. All persons who are partners in a partnership, or all officers in a corporation who are actively engaged in the real estate profession within the state or 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 state contiguous there to unless otherwise qualified for Institute Affiliate Membership as described in Section 1(b) of Article IV.
        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 manager, and are associated with a REALTOR® Member and meet the qualifications set out in Article V.
        
        
      • (3) 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 REALTORDesignated REALTOR® member of the Board in order for licensees affiliated with the firm to select the Board as their "primary" Board.
        
        
      • (4) 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.
        
        
      • (5) Franchise REALTOR® Membership. Corporate officers (who may be licensed or unlicensed) of) 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 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.Designated REALTOR
        
        
    • (b) Institute Affiliate. Affiliate members shall be individuals who hold a professional designation awarded by a qualified 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 vote or 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) Affiliate Members. Affiliate Members shall be real estate owners and other individuals or firms who, while not engaged in the real estate profession as defined in paragraph (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 salaried employees of 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 and who are no longer active members of the Board, but were active members for a minimum of thirty (30) years forty (40) years, 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 an 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 real estate business on their own account or not associated with an established real estate office.
      
      
    • (g) Life Members. Regular Life Members shall be individuals who have been active members of the Board for a minimum of thirty (30) years and to whom such membership has been awarded by the Board of Directors. The Board of Directors shall have the authority to establish any additional criteria for the award of Life Membership and an application process for members to be considered for Life Membership.
      
      
    • (h) Associate Members. Associate Membership shall be individuals or entities (which shall be represented by a designated individual) who are not active licensees of the North Carolina Real Estate Commission and are not engaged in the real estate profession as defined in paragraph (a) or (b) of this Section, who are in agreement with the purposes of the Board and require information concerning real estate, but who do not desire any membership in the North Carolina Association of REALTORS® or the National Association of REALTORS®. Generally, Associate Members will be involved in businesses or professions that are ancillary to the real estate profession and desire to coordinate with and support the activities of the REALTOR® Members.
      
      

 

• ARTICLE V - QUALIFICATION AND ELECTION
  
  
  • Section 1. Application. 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 applicants agree as a condition to membership to thoroughly familiarize themselves 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®, 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 Membership Committee 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 Membership Committee that he/she 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 there to (unless 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 agree that if elected to membership, he/she will abide by such Constitution, Bylaws, Rules and Regulations, and Code of Ethics.
      
      
    • (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 qualify 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 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 agree in writing that if elected to membership he/she will abide by such Constitution, Bylaws, Rules and Regulations, and the Code of Ethics.
      
      
    • (c) An applicant for Institute Affiliate Membership shall supply to the Membership Committee evidence that applicant holds a professional designation awarded by a qualified Institute, Society or Council affiliated with the National Association of REALTORS® that addresses a specialty area other than residential brokerage or who otherwise holds a class of membership in such Institute, Society or Council that confers the right to vote or hold office and shall agree, if elected to membership, to abide by the Constitution, Bylaws and Rules and Regulations of the local Board, the State Association and the National Association.
      
      
    • (d) An applicant for Associate Membership shall complete, sign and submit to the Board the Application for Associate Membership.
      
      
  • Section 3. Election. The procedure for election to membership shall be as follows:
    
    
    • (a) Applicants for REALTOR® membership shall be granted provisional membership immediately upon submission of a completed application form and remittance of applicable association dues and any application fee. Provisional members shall be considered REALTORS® and shall be subject to all of the same privileges and obligations of membership. Provisional membership is granted subject to subsequent review of the application by the Board of Directors. If the Board of Directors determines that the individual does not meet all of the qualifications for membership as established in the association's bylaws, or, if the individual does not satisfy all of the requirements of membership, which includes a mandatory orientation program, within the calendar quarter they join the Board, membership may, at the discretion of the Board of Directors, be terminated.
      
      
    • (b) Applicants for Secondary REALTOR® membership shall be granted provisional membership upon receipt of a letter in good standing from their primary board and upon submission of a completed application form and remittance of applicable association dues and any application fee. Provisional membership is granted subject to subsequent review of the application by the Board of Directors. If the Board of Directors determines that the individual does not meet all of the qualifications for membership as established in the association's bylaws, or, if the individual does not satisfy all of the requirements of membership, which includes a mandatory orientation program, within the calendar quarter they join the Board, membership may, at the discretion of the Board of Directors, be terminated.
      
      
    • (c) New REALTOR® members (except transfer and secondary members) shall attend the Board's new member orientation program which is provided on a quarterly basis. Membership may be terminated if the orientation program is not completed in the time frame allotted by the Board and reinstatement will not be allowed until orientation is complete. A reinstatement fee may be charged to any members requiring reinstatement.
      
      
    • (d) Dues shall be computed from the date of application based on a pro-rated monthly fee and shall be non-refundable unless the association's Board of Directors terminates the individual's membership in accordance with subsection (a) above. In such instances, dues shall be returned to the individual less a prorated amount to cover the number of days that the individual received association services and any application fee.
      
      
    • (e) The Board of Directors may not terminate any provisional membership without providing the provisional member with advance notice, 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/she 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.
      
      
    • (f) If the Board of Directors determines that provisional membership should be terminated, it shall record its reasons with the Secretary. If the Board of Directors believes that termination of provisional membership may become the basis of litigation and a claim of damage by a provisional member, it may specify that termination 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 declaring that the termination violates no rights of the individual.
      
      
    • (g) Upon receipt of an Associate Membership Application the Board of Directors shall review the application as soon as practicable and shall vote whether to approve the Associate Membership.
      
      
  • Section 4. New Member Code of Ethics Orientation. Applicants for REALTOR® membership and provisional REALTOR® members shall complete an orientation program on the Code of Ethics of not less than two hours and thirty minutes of instructional time. This obligation to complete the Code of Ethics Orientation Program may be satisfied by completing the National Association of REALTORS® Online Code of Ethics training. If the Code of Ethics training is not completed within 45 days from the date provisional membership is granted, membership will be terminated. Proof of completion must be submitted to the Board for reinstatement and a reinstatement fee may be charged. 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 within 45 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.
    
    
  • Section 5. 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® members shall be suspended until such time as the training is completed. Suspension of membership may result in a fine at the discretion of the Board of Directors.
    
  • Section 6. Status Changes
    
    
    • (a) A REALTOR® who changes the conditions under which he/she holds membership shall be required to provide written notification to the Board within (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 fourteen (14) 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.
      
      
    • (b) Any application fee related to a change in membership status shall be reduced by an amount equal to any application fee previously paid 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.
      
      
    • (d) In order for a member's membership to be reinstated after it was suspended for any reason established by these Bylaws or by the established Policies and Procedures of the Chapel Hill Board of REALTORS®, the member to be reinstated shall pay a reinstatement fee.  Such reinstatement fee shall be in addition to and not in lieu of any and all other requirements to be met and amounts due by the member to be reinstated.  The amount of such reinstatement fee shall be set annually by the Board of Directors as part of the budget approval process, but shall not exceed forty-five percent (45%) of the annual regular membership dues for that same budget year.
      

 

• 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 nor 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 of the Membership Committee, or 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 nondiscriminatory 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 or any of its services, departments, divisions, or subsidiaries, the Board may condition the right of the resigning Member to reapply for membership upon payment in full of all such monies owed.
    
    
  • Section 5. If a Member resigns from the Board or otherwise causes membership to terminate with an ethics complaint or arbitration request pending, the that 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 or arbitration proceeding and will abide by the decision of the hearing panel.; or if the Member resigns without having complied with an award in arbitration, the Board of Directors may condition any reapplication of the former Member upon his promise to pay the award, plus any costs that have previously been established as due and payable by the former Member, provided that the award has not, in the meanwhile, been otherwise satisfied. If a member resigns or otherwise causes membership to terminate, the duty to submit to an arbitration and abide by any arbitration award 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.
    
    
    • (a) 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 term REALTOR® and REALTORS®, which use shall be subject to the provisions off Article VIII, and have the primary responsibility to safeguard and promote the standards, interests, and welfare of the Board and the real estate profession.
      
      
    • (b) If a REALTOR® Member is a principal in a firm, partnership, or 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 readmission to REALTOR® Membership, or unless connection with the firm, partnership, or corporation is severed, 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, whichever may apply. Further, the membership of REALTORS® other than principals who are employed by or affiliated as independent contractors with the disciplined Member shall suspend or terminate during the period of suspension of the disciplined Member or until readmission of the disciplined member or until connection of the disciplined Member with the firm, partnership, or corporation is severed, 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 who is other than a principal in a firm, partnership, or corporation is suspended or expelled, the use of the terms REALTOR® or REALTORS® by the firm, partnership, or corporation shall not be affected.
      
      
    • (c) In any action taken against a REALTOR® Member for suspension or expulsion under Section 6(b) 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(b) 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 rights 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.
    
    
  • Section 8. Affiliate Members. Affiliate 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. Regular Life Members shall have all the rights, privileges and obligations of REALTOR® members except as provided in Article X, Section 2(h).
    
    
  • Section 13. Certification by REALTORS®. "Designated" REALTOR® members of the Board shall certify to the Board during the month of January on a form provided by the Board, a complete listing of all individuals licensed or certified in REALTOR® 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 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(a) 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. Sexual Harassment. Any member of the board may be reprimanded, placed on probation, suspended or expelled for sexual harassment of a board or MLS employee after a hearing in accordance with the established procedures of the board. The decision of the appropriate disciplinary action to be taken shall be made by the investigatory team comprised of the President, and President-elect 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 counsel for the board. 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.
    
    
  • Section 15. Associate Members shall not be eligible to vote or hold office in the Chapel Hill Board of REALTORS®. Associate Members shall be entitled to attend and participate in the general meetings and business of the Chapel Hill Board of REALTORS® in such manner as may be prescribed by the Board of Directors from time to time.
    
    

 

• 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 from time to time amended, which by this reference is made part of these Bylaws, inclusive of any optional provisions as detailed in the Manual and as adopted by the Board of Directors, 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® and 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.
    
    
  • Section 3. The responsibility of the Board and of Board members relating to the enforcement of the Code of Ethics, the disciplining of members, the arbitration of disputes, and the organization and procedures incident thereto, shall be consistent with any cooperative professional standards enforcement agreement entered into by the Board, which by this reference is made a part of these Bylaws.
    
    

 

• 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.
    
    
  • 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 state contiguous there to of the Board 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 state contiguous thereto of the Board are REALTOR® Members of the Board or Institute Affiliate Members as described in Article IV, Section 1(b).
    (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.
    
    
    
  • 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 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® and Affiliate 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 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. The Board of Directors may adopt an application fee for Institute Affiliate membership not in excess of the annual dues for Institute Affiliate Members of the National Association.
    
    
  • Section 2. Dues. The dues of Members shall be as follows:
    
    
    • (a) Designated REALTOR® Members. The annual dues of each Designated REALTOR® Member shall be in such amount as established 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 (1) employed by or affiliated as independent contractors or who are otherwise directly or indirectly licensed with such Designated REALTOR® member and (2) are not REALTOR® Members of any Board in the state or 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 (a) (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 non-member licensees in another Board in the state, or a state contiguous there to, 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 this board.
      
      
      • (1) 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, or corporate officer of a real estate firm, partnership, or corporation, branch office manger is actively engaged in the real estate profession as defined in Article III, Section 1, 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 soliciting and/or referring clients or customers to the REALTOR® or his firm on a substantially exclusive basis or 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.
        
        
    • (b) REALTOR® Members. The annual dues of each REALTOR® Member other than a Designated REALTOR® shall be in such amount as established annually by the Board of Directors.
      
      
    • (c) Institute Affiliate Members. The annual dues of each Institute Affiliate Member shall be as established in Article II of the Bylaws of the NATIONAL ASSOCIATIONS of REALTORS®. 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 a 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 $25.00 amount 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.
      
      
    • (d) Affiliate Members. The annual dues of each Affiliate Member shall be an amount as established annually by the Board of Directors.
      
      
    • (e) Public Service Members. The annual dues of each Public Service Member shall be an amount as established annually by the Board of Directors.
      
      
    • (f) Honorary Members. No dues shall be required of Honorary Members and meals served at luncheon meetings shall be as charged to REALTOR® members.
      
      
    • (g) Student Members. Dues payable, if any, shall be at the discretion of the Board of Directors.
      
      
    • (h) Life Members. The annual dues of each Regular Life Member shall be only that amount due from the Board to the North Carolina Association of REALTORS® and the National Association of REALTORS® for such Regular Life Member. There shall be no local dues, and meals served at luncheon meetings shall be without charge.
      
      
    • (i) 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 determined by the Board of Directors. In case of conflict between Life Membership and REALTOR® Emeriti, Life Membership dues shall prevail.
      
      
    • (j) Associate Members. The annual dues of Associate members shall be the same as the Local Board dues payable by REALTOR® Members and shall not include dues payable for membership in the North Carolina Association of REALTORS® or the National Association of REALTORS®.
      
      
  • Section 3. Dues Payable. Dues for all Existing Members shall be payable annually on the 31st day of December for the next calendar year. Dues shall be computed and prorated on a monthly basis from the date of application and granting of provisional membership for new members.
    
    
    • (a) In the event a sales licensee or licensed or certified appraiser who holds REALTOR® membership is dropped for nonpayment of Board dues, and the individual remains with the Designated REALTOR®'s firm, the dues obligation of the Designated REALTOR® (as set forth in Article X, Section 2 (a)) will be increased to reflect the addition of a non-member licensee. Dues shall be calculated from the first day of the current fiscal year and are payable within 30 days of the notice of termination.
      
      
  • Section 4. Nonpayment of Financial Obligation. If dues, fees, fines, or other assessments including amounts owed to the Board are not paid by the 31st of December for existing members, the nonpaying Member is subject to termination at the discretion of the Board of Directors. No action shall be taken to suspend or expel a Member for nonpayment 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 or any of its services, departments, divisions or subsidiaries may apply for reinstatement in a manner prescribed for new applicants for membership, after making payment in full of all accounts due as of the date of termination.
    
    
  • Section 5. Deposit. All money 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 current Treasurer and incoming Treasurer and Finance Committee shall, prior to the end of each fiscal year, prepare a budget reflecting projected costs and expenses of the Board for the next fiscal year, indicating projected income from all sources. The budget shall be submitted to the Board of Directors for vote, then passed on to the Membership no later than October’s General Membership Meeting for approval. The Board of Directors shall not incur an obligation in excess of $5,000 or 20%, whichever is greater, over any approved budgeted line item, so long as the total budgeted expenses are not cumulatively overrun by more than 10%, without the authorization by vote of a majority of all the REALTOR® Members voting.
    
    
  • 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 shall be noticed to the delinquent Board Member in writing setting forth the amount owed and due date.
    
    

 

• ARTICLE XI - OFFICERS AND DIRECTORS
  
  
  • Section 1. Officers. The elected officers of the Board shall be: a President, a Vice President who shall serve as President-Elect, a Secretary, a Treasurer, and an Assistant Treasurer. The Secretary and Treasurer may be the same person. They shall be elected for terms of one year.
    
    
  • Section 2. Duties of Officers. The duties of 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 to carry on all necessary correspondence with the NATIONAL ASSOCIATION OF REALTORS® and the NORTH CAROLINA ASSOCIATION OF REALTORS®. Depending upon the number of positions made available by the North Carolina Association of REALTORS®, it shall be the particular duty of the President, President-Elect and another Officer or Officers of the Board of Directors, in that order of priority, to serve as North Carolina Association of REALTORS® Directors.
    
    
  • Section 3. Board of Directors. The governing body of the Board shall be a Board of Directors consisting of the Elected Officers (including the Assistant Treasurer), the immediate past President, and three REALTOR® Members of the Board. Directors shall be elected to serve for terms of three years, except that at organization, one-third of the elected Directors shall be elected for terms of one, two and three years, respectively, or for such 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. A majority of elected officers at any Board of Directors meeting shall constitute a quorum for the transaction of business.
    
    
  • Section 5. Action Without Meeting. Unless specifically prohibited by the articles of incorporation, any action required or permitted to be taken at a meeting of the Board of Directors may be taken without a meeting if a consent in writing, setting forth the action so take, shall be signed by all the directors. The consent shall be evidence by one or more written approvals, each of which sets forth the action taken and bears the signature of one or more directors. All the approvals evidencing the consent shall be delivered to the Association Executive to be filed in the corporate records. The action taken shall be effective when all the directors have approved the consent unless the consent specifies a different effective date.
    
    
  • Section 6. Term Limits. No director shall serve for more than two consecutive three year terms.
    
    
  • Section 7. Election of Officers and Directors.
    
    
    • (a) Elected office in or representing the Chapel Hill Board of REALTORS® can be held only by active REALTOR® members in good standing with the Chapel Hill Board of REALTORS®.
      
      
    • (b) Elected officers are required to take the Professional Standards Workshop sponsored by NCAR the first year they are elected to serve on the Board of Directors.
      
      
    • (c) At least three regularly scheduled Business Meetings of the Board of Directors before the annual election, a nominating committee of at least three REALTOR® Members shall be appointed by the President-Elect with the approval of the Board of Directors. The nominating committee shall select at least one candidate for each office and at least one candidate for each place to be filled on the Board of Directors. The person currently serving as Vice President (President Elect) should be nominated for President, shall have chaired a major standing committee, and/or served as an Officer or Director of the Board of Directors for at least one year. The report of the nominating committee shall be submitted to the Board of Directors for approval at least two regularly scheduled Business Meetings of the Board of Directors before the annual election; and within one week after said approval, disseminated to each REALTOR® Member through electronic transmission, website posting and/or the mail. Additional candidate(s) for any office, including the office of President, may be nominated from the floor by any REALTOR® Member at the regularly scheduled General Membership Meeting of the Board of REALTORS® before the annual election. The final slate of candidates shall be electronically transmitted, posted on the Board's website and/or mailed to each REALTOR® Member at least two weeks preceding the election. If a member of the committee is nominated they must resign from the committee and the President will name a new member for his/her position on the committee, if the number on the committee is less than three.
      
      
    • (d) The election of Officers and Directors shall be conducted by electronic means, in accordance with procedures established by the Board of Directors. In case of emergency or electronic failure, the Board of Directors may extend the voting period as established in the Policy and Procedure Manual. Election shall be by a majority of votes cast. The deadline for any such election shall be the day before the annual meeting date. The ballot shall contain the names of all candidates and the office for which they are nominated. On-site lobbying for or by any candidate during polling hours at the board office shall be prohibited.
      
      
    • (e) The Association Executive, with the approval of the Board of Directors, shall have responsibility for assimilating the votes and tallying the results. The President shall notify all candidates on the ballot of the results within 48 hours after the voting process ends. In case of a tie vote, the issue shall be determined by lot.
      
      
  • Section 8. Vacancies. Vacancies among the Officers and the Board of Directors shall be filled by the Board of Directors until the next annual election.
    
    
  • Section 9. Disqualification and Removal. 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 requesting 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 10. Association Executive. There shall be an Association Executive, appointed by the Board of Directors, who shall be the chief administrative officer of the Board. The Association Executive shall have the authority to hire, supervise, evaluate and terminate other staff, if any, and shall perform such other duties as prescribed by the Board of Directors.

 

• ARTICLE XII - MEETINGS
  
  
  • Section 1. Annual Meeting. The annual meeting of the Board shall be held during September of each year, the date, place, and hour to be designated by the Board of Directors.
    
    
  • Section 2. Meeting of Directors. The Board of Directors shall designate a regular time and place of meeting. Absence from three consecutive regular meetings without an excuse deemed valid by the Board of Directors shall be construed as resignation therefrom.
    
    
  • 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 of members eligible to vote.
    
    
  • Section 4. Notice of Meetings. Written notice transmitted electronically shall be given to every member entitled to participate in the meetings at least two weeks preceding all meetings unless otherwise provided. Such notice shall contain a clear statement of any issue which may be voted upon at such meeting upon which the Board of Directors has allowed the voting process to be extended ("Extended Voting") after the meeting as provided in Section 6 of this Article. If a special meeting is called, it shall be accompanied by a statement of the purpose of the meeting.
    
    
  • Section 5. Quorum and Transaction of Business. A quorum for the transaction of any business at any meeting of the members shall consist of the REALTOR® Members in good standing and present at such meeting, with a simple majority vote being necessary to determine all issues, except as may be otherwise specified in these bylaws. Proxy voting shall not be permitted.
    
    
  • Section 6. Extended Voting. Voting by the Membership upon any matter of business may be extended after any meeting only in accordance with the following:
    
    • (a) The Board of Directors shall provide for Extended Voting on any matter of business to be presented at any meeting by including, as part of the notice for the meeting respecting the matter in question, written notice that the voting process as to such matter will be extended as provided herein, or
      
    • (b) During any duly called meeting of the Membership, the voting upon any matter brought before the members at the meeting shall be extended in accordance with this Section by majority vote to establish Extended Voting. When the voting on any matter is to be extended as provided herein, such voting may be conducted for such remaining portion of the day of the meeting as designated by the Board of Directors in the Notice of the Meeting or as designated by the Membership by vote at a duly called meeting (the "Extended Voting Period"). Such Extended Voting shall be at the place(s) designated for same by the Board of Directors in said notice or as designated by the Membership by vote at a duly called meeting. Extended Voting shall be conducted by the Member voting being personally present at the place designated for same and casting a written ballot as provided by the Board ("Official Ballot") as to any issue, unless otherwise provided herein.
      
      
  • Section 7. Absentee and Electronic Voting. Any Member who would have been entitled to vote upon any business at a meeting of the Board, but who did not attend such meeting, may cast an absentee ballot upon any matter only in accordance with the following:
    
    • (a) By casting an Official Ballot as provided in Section 6 (d) above during a duly established Extended Voting Period; or
      
    • (b) By casting an electronically transmitted Official Ballot, as hereinafter provided, during a duly established Extended Voting Period.
      
    • (c) An Official Ballot provided by the Board for Extended Voting may be transmitted by facsimile or by electronic mail (e-mail) or similar electronic means from any Member entitled to cast a ballot during an Extended Voting Period to the place or receiving device, (that being the telephone number and/or e-mail address), as is designated for same by the Board of Directors. Such ballot shall only be counted in the voting on any matter if accompanied by a copy of the "pocket card", current to the date of such vote, issued by the North Carolina Real Estate Commission to the real estate licensee who is the Member casting the ballot and if actually received during the Extended Voting Period.
      
    • (d) The Board of Directors shall take reasonable and practical actions to provide an Official Ballot to any Member requesting a ballot at the place designated for Extended Voting and to any Member requesting a ballot by electronic means to use for absentee voting by electronic means as set out above, but the failure to provide such ballot shall in no way invalidate any vote or be deemed a violation of any right of any Member.
      

 

• ARTICLE XIII - COMMITTEES
  
  
  • Section 1. Standing Committees. The newly elected President shall appoint chairs to the following standing committees from among the REALTOR® Members before the first day in November prior to the elective year, subject to confirmation by the Board of Directors. Other committees may be formed at the discretion of the President, but are not required to be listed in the Bylaws.
    

    Bylaws		Membership
    Education/Program		Designated REALTOR®
    Equal Opportunity		Professional Standards
    Finance		RPAC/Political Affairs
    Grievance		Social

    
    
  • Section 2. Special Committees. The President shall appoint, subject to confirmation by the Board of Directors, such special committees as he/she may deem necessary.
    
    
  • Section 3. Organization. All committees shall be of such size and shall have such duties, functions, and powers as assigned by the President or the Board of Directors, except as otherwise provided in these Bylaws.
    
    
  • Section 4. President and Executive Officer. The President and Executive Officer shall be ex officio members of all standing committees, except Personnel for the Executive Officer, and shall be notified of their meetings.
    
    
  • Section 5. Action Without Meeting. Any committee may act by unanimous consent in writing without a meeting. The consent shall be evidenced by one or more written approvals, each of which sets forth the action taken and bears the signature of one or more of the members of the committee.
    
    
  • Section 6. Attendance by Telephone. Members of a committee may participate in any meeting through the use of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other. Such participation shall be at the discretion of the President and shall constitute presence at the meeting.
    
    

 

• ARTICLE XIV - FISCAL AND ELECTIVE YEAR
  
  
  • Section 1. The fiscal and elective year of the Board shall be the calendar year.
    
    
  • Section 2. The elective year of the Board shall be January 1 to December 31.
    
    

• ARTICLE XV - RULES OF ORDER
  
  
  • Section 1. Robert's 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 - GENERAL PROVISIONS
  
  
  • Section 1. Electronic Transmission of Business. To the fullest extent permitted by law, the Board of Directors or membership may conduct business by electronic means.

 

• ARTICLE XVII - AMENDMENTS
  
  
  • Section 1. These Bylaws may be amended by majority vote of the REALTOR® 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. 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. Verbal notification of a general membership meeting to consider such amendments shall be given at the general membership meeting one month prior to the meeting where such amendment(s) shall be considered. Notice by mail or electronic transmission of all meetings at which such amendments are to be considered shall be given to every REALTOR® Member at least two weeks prior to the time of the meeting.
    
    
  • Section 3. Amendments to these Bylaws affecting the admission or qualification of REALTOR® Members 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 by the Board of Directors of the NATIONAL ASSOCIATION OF REALTORS®.
    
    

 

• ARTICLE XVIII - 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 non-profit tax exempt organization.
    
    

 

• ARTICLE XIX - MULTIPLE LISTING
  
  
  • Section 1. Authority. The Chapel Hill Board of REALTORS® may provide access to a Multiple Listing Service for the use of its members.
    
    
  • 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 information is accumulated and disseminated to enable authorized participants to prepare appraisals and other valuations of real property; 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 among the participants so that they may better serve their clients and the public. Entitlement to compensation is determined by the cooperating broker’s performance as procuring cause of the sale (or lease).
    
    
  • Section 3. Participation. Any REALTOR® Member 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 qualification, 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 real estate broker’s license and are capable of offering and accepting 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 by or published by a Board Multiple Listing Service where access to such information is prohibited by law.
    
    

 Revised February 2005
Approved by the Membership on: