ARTICLE I

Qualification and Election of Members

Section 1: APPLICATION

Application shall be made in such manner and form as may be prescribed by the Board of Directors.

Section 2: QUALIFICATION

1. An applicant for REALTOR® membership who is engaged in the real estate profession as a principal, partner, corporate officer, branch office manager or trustee shall supply evidence satisfactory to the Membership Committee that he/she has a place of business within the state or a state contiguous thereto (unless a secondary member), has no record of official sanctions involving unprofessional conduct, has no record of recent or pending bankruptcy, agrees to complete an orientation course of instruction covering anti-trust, fair-housing law, professional standards, the Constitution, the Bylaws and Rules and Regulations of the local Association, State and National Associations of REALTORS®, the Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS®, and shall pass such reasonable and non-discriminatory written examinations thereon as may be required by the Committee, and shall agree that if elected to membership he/she will abide by such Constitution, Bylaws, Rules and Regulations and Code of Ethics. An applicant for REALTOR® status must complete Association orientation requirements within three sessions of joining the Association or be assessed a fine as established by the Board of Directors.
   
   
2. Individuals who are engaged in the real estate profession other than as a principal, partner, corporate officer, branch office manager or trustee, 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 who maintains an established real estate office and shall satisfy the following requirements: The applicant must make written application for REALTOR® membership to the local Association; must subscribe to the REALTOR® Code of Ethics, to the Constitution, Bylaws, Rules and Regulations of the local Association, the State Association and the NATIONAL ASSOCIATION OF REALTORS®; and shall complete an orientation course of instruction covering anti-trust, fair housing law, professional standards, the Constitution, the Bylaws and Rules and Regulations of the local Association, State and National Associations of REALTORS®, the Code of Ethics of the National Association of REALTORS®, and shall pass such reasonable and non-discriminatory written examinations thereon as may be required within three sessions of joining the Association or be assessed a fine as established by the Board of Directors.

Section 3: ELECTION

The procedure for election to membership shall be as follows:

1. The Membership Committee shall determine whether the applicant is eligible, under Article IV of the Constitution, for the class of membership for which he is applying and, upon so determining, shall give written notice to the REALTOR® members of all applicants for membership and invite written comment thereon. If one or more REALTOR® members submit objections to the approval of the application, basing such objection on lack of qualifications as set forth in this Constitution, the Committee shall invite the objectors to appear and substantiate their objections. If the Committee finds the objection substantiated, it shall give the applicant an opportunity to appear and establish the inaccuracy, and thereafter shall make a written record of its findings.
   
   
2. Thereafter, within two months, the Membership Committee shall report its recommendation to the Board of Directors. If recommendation is adverse to the approval of the application, the reasons therefor shall be stated and the applicant informed in writing of such reasons.
   
   
3. 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 Association, the State Association, and the National Association.
   
   
4. The Board of Directors shall review the qualifications of the applicant and the recommendation of the Committee and then vote on eligibility to membership. If an applicant receives a majority vote of the Board of Directors, he/she shall be declared elected to membership. Not withstanding anything to the contrary in the Constitution and Bylaws, an application for Institute Affiliate membership shall be acted upon by the Board of Directors within forty-five (45) days from the date of application for membership.

ARTICLE II

Finances, Fees and Dues

Section 1: ENTRANCE FEE

1. The entrance fee for REALTOR® membership in the REALTORS® Association of South Central Wisconsin, Inc. shall be determined annually by the Board of Directors and shall accompany the application. The entrance fee for REALTOR® members shall not exceed three times the amount of annual dues for REALTOR® membership.
   
   
2. There shall be no entrance fee for Affiliate or Institute Affiliate members.
   
   
3. A transfer fee may be set by the Board of Directors for a member transferring from one member office to another.

Section 2: DUES

1. The Membership Year of the Association shall be January through December.
   
   
2. Dues for each classification of membership shall be determined annually by the Board of Directors, except there shall be no dues for Honorary members.
   
   
3. The annual dues of each Institute Affiliate member shall not exceed two and one half times the amount established pursuant to Article II, Section 1(a) of the National Association's Bylaws for REALTOR® members.
   
   
4. The dues are reduced by one third for any Senior REALTOR® member with continuous membership in the Association for 20 years or more and has attained the age of 60 years by January 1.
   
   
5. The dues are reduced to $12.00 for any Elder REALTOR® member who has attained the age of 65 years by January 1 with continuous membership in the Association for 25 years or more or has attained the age of 70 years by January 1 with 10 years or more of continuous membership in the Association.
   
   
6. The regular dues for the duly elected president of the Association shall be waived for the year that he or she holds office, but any increase that may be charged because of being a designated member of a firm as provided in Section 3 shall not be waived.
   
   
7. Dues for applicants shall be prorated quarterly.
   
   
8. Dues of members shall be payable annually in advance on the first day of November of the preceding year or as soon thereafter as the member has been billed. A $25 late fee per person, per office, will be imposed on all delinquent dues billings received after December 31.

Section 3: DUES-PRINCIPALS, PARTNERS OR CORPORATE OFFICERS

Dues payable by REALTOR® members shall be in proportion to the number of sales employees, independent contractors, licensed or certified appraisers, or licensed administrative and clerical staff or personal assistants who are employed by or affiliated as independent contractors, or who are otherwise directly or indirectly licensed with such REALTOR® member and who are not themselves REALTOR® members or applicants of any Association in the state or a state contiguous thereto or Institute Affiliate Members of the Association. In calculating the dues payable to the Association by a Designated REALTOR® Member, non-member licensees as defined in this Section shall not be included in the computation of dues if the DR has paid dues based on said non-member licensees in another Association in the state or a state contiguous thereto, provided the Designated REALTOR® notifies the Association in writing of the identity of the Association to which dues have been remitted.

The dues for such REALTOR® member shall be the aggregate amount of a regular REALTOR® member's dues, plus an equal amount times the number of sales employees, independent contractors, licensed or certified appraisers, or licensed administrative and clerical staff or personal assistants who are not themselves REALTOR® members or applicants.

For the purpose of this section, only the REALTOR® member who is the principal, partner, corporate officer, or branch manager that is designated from time to time by the firm, partnership or corporation shall be required to pay that portion of the dues computed on the basis of sales employees, independent contractors, licensed or certified appraisers, or licensed administrative and clerical staff or personal assistants who are not themselves REALTORS®.

Designated REALTOR® Members of the Association shall certify to the Association during the month of January on a form provided by the Association, a complete listing of all individuals licensed or certified in the REALTOR®'s office(s) and shall designate a primary Association for each individual who holds a 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 Association based on said non-member licensees, the Designated REALTOR® shall identify the Association to which dues have been remitted. These declarations shall be used for purposes of calculating dues under Article II, Section 3 of these Bylaws. Designated REALTOR® Members shall also notify the Association of any additional individual(s) licensed or certified with the firm(s) within 30 days of the date of affiliation or severance of the individual, or be subject to a fine that is established by the Board of Directors and amended from time to time.

Section 4: NON-PAYMENT OF DUES

1. If dues are not paid after thirty days, a delinquent member may be dropped from membership by the Board of Directors at its discretion, which shall become final thirty days after the delinquent member has been given written notice of such action.
   
   
2. An applicant for REALTOR® membership, who has previously been a member and who has been dropped from membership by the Board of Directors for non-payment of dues, shall be eligible for membership upon meeting the same requirements as any new applicant, and by payment of an amount equal to the dues or fees owing at the time of being dropped from membership.
   
   The Board of Directors shall have the right to waive said dues, or additional fee, or both, should conditions, in its opinion, warrant it.

Section 5: LEAVE OF ABSENCE

Upon written request setting forth reasons, the Board of Directors shall have the right to grant a leave of absence and to waive dues payable from a member if that member, for reasons of health or forced absence, is not able to in any way engage in the practice of real estate for an extended period of time. Such leave of absence shall not be granted for periods in excess of six months at a time and shall automatically expire upon the member's re-entry into active practice of real estate.

This right shall be used sparingly by the Board of Directors and shall not be exercised in cases of extended vacations, job changes, etc.

Section 6: EXPENDITURES

The Board of Directors shall not incur any obligation or authorize any expenditure in any fiscal year in excess of $5,000 above that provided for by the approved budget, without the approval of the Association membership at a meeting called for that purpose. In the event there is more money in the Association treasury than is currently needed, the Board of Directors may invest a portion thereof in real estate, real estate mortgages, or liquid security.

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 Association or Association Multiple Listing Service shall be noticed to the delinquent Association member in writing setting forth the amount owed and the due date.

Section 8 The Board of Directors may retain legal counsel as they deem necessary.

ARTICLE III

Committees

Section 1: APPOINTMENT

The President shall appoint all committees subject to confirmation by the Board of Directors. The President shall be notified of all committee meetings and shall have the right to attend their sessions and take part in discussions.

1. STANDING COMMITTEES. The President shall appoint from among the members, subject to confirmation by the Board of Directors, the following standing committees: Professional Standards, Governmental Affairs, MLS, Public Relations, Education, Finance, Membership, Program, Equal Opportunity, Bylaws.
   
   
2. SPECIAL COMMITTEES. The President shall appoint, subject to confirmation by the Board of Directors, special committees as deemed necessary.

Section 2: 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. Committees shall be appointed for a term of one year or until their successors have been duly appointed and confirmed.

The Executive Vice-President shall be ex-officio, non-voting member of all committees.

Section 5: REPORTS

All committees shall report when requested by the President and shall make a report in writing at the end of the elective year.

Section 6: ACTIONS

All actions of the committees, except those which deal exclusively with arbitration matters, shall be subject to the approval of the Board of Directors.

Section 7: ABSENCES

Any committee member who remains absent for three consecutive meetings of a committee without good cause shall automatically forfeit his appointment unless, upon his written request, he shall be restored to the committee by action of the Board of Directors in the exercise of its discretion.

Section 8: ELIGIBILITY

All members of the Association may serve on committees except that the Professional Standards and MLS Committees shall consist of REALTOR® members only.

ARTICLE IV

Authorization for Additional Services

The Board of Directors may, at its discretion, create divisions of the Association for different branches of the real estate business in order to give members who specialize in such branches opportunity for conference and cooperation.

The Board of Directors, with the approval of the membership, may create wholly owned corporations to better serve its members and the public including, but not limited to, a Multiple Listing Service. Such corporations shall be operated in accordance with their charters and Rules & Regulations, subject to the approval of the Board of Directors.

ARTICLE V

Access to Comparable and Statistical Information

Association members who are actively engaged in real estate brokerage, management, mortgage financing, appraising, land development or building, but who do not participate in the MLS, are nonetheless entitled to receive, by purchase or lease, information other than current listing information that is generated wholly or in part by the MLS including "comparable information", "sold" information and statistical reports. This information is provided for the exclusive use of Association members and individuals affiliated with Association 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 MLS Rules and Regulations. Association members who receive such information, either as an Association service or through the Association's MLS, are subject to the applicable provisions of the MLS Rules and Regulations whether they participate in the MLS or not.

ARTICLE VI

Cooperative Sales

DIVISION OF COMMISSION

In order to promote continuing harmony and avoid disputes between members of the REALTORS® Association of South Central Wisconsin, Inc., it is recommended that members who contemplate a cooperative transaction clearly understand what the division of commission will be prior to any submission of information to a customer, a client or showing of the property.

ARTICLE VII

Rules of Conduct

CODE OF ETHICS. The Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS® shall be the basis of the conduct for REALTOR® members of the Association.

Section 1
All appointments, negotiations, and communications regarding listed property shall be made through the listing broker.

Section 2
REALTORS® shall not solicit a listing on property filed with the MLS unless such solicitation is consistent with Article 16 of the REALTORS® Code of Ethics, its Standards of Practice and its Case Interpretations.

Section 3
A member receiving an offer on any property shall promptly deliver it to the listing broker who must show the hour and date received. The listing broker shall then promptly present the offer to the owner. Should more than one offer be received, it shall be the duty of the listing broker to present all offers to the owner.

ARTICLE VIII

Amendments

Section 1
All amendments to these Bylaws must be offered in writing and read at a meeting of the membership prior to the meeting at which the amendment is to be acted upon and, if adopted by a majority of the REALTOR® members in good standing present at such meeting, shall become a part of these Bylaws. 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
Due notice, in writing, setting forth the substance of the amendment to be acted upon shall be mailed to each REALTOR® member at least five (5) days prior to the meeting at which the amendment is to be acted upon.

Section 3
Members or committees wishing to introduce an amendment to these Bylaws shall prepare said amendment and deliver it to the President or the Executive Vice President who will refer it to the Bylaws Committee or directly to the membership.

It shall be the duty of the Executive Vice President to keep a file on all amendments, setting forth the committees or individuals who presented the amendment, the date of the meeting at which it was first read, the date of the bulletin in which the membership was notified, the date on which the roll call vote was taken, the number of REALTOR® members present, and the result of the vote.

Section 4
Amendments to these Bylaws affecting the admission or qualification of active members and Institute Affiliate members, the use of the terms REALTOR® and REALTORS®, or any alteration in the territorial jurisdiction of the Association shall become effective upon their approval by the Board of Directors of the National Association.

ARTICLE IX

Indemnification

The Association shall provide the indemnification of officers and directors mandatory under Wisconsin law and may, by resolution of the Board of Directors, provide for additional indemnification and allowance of expenses as permitted by law. The Association may also maintain insurance to fund its obligations hereunder.