Board of Directors
Committee Term: 3
Max Committee Term: 2
Staff Liaison: Association Executive
Duties and Powers:
- All corporate powers shall be vested in the Board of Directors who shall carry out the policies adopted by the Board, who may take any action upon a majority vote of Directors present and voting at any regular or special meeting, except as provided in Paragraph (5) hereunder.
- The Board of Directors shall administer the finances of the Board and shall have authority to appropriate money. The right to waive late fees associated with dues or other administrative fees shall be at the discretion of the Board of Directors.
- The Board of Directors shall have full power to borrow money, to issue notes, bonds or certificates of indebtedness, as may be deemed necessary to carry out the objectives and purposes of the Board.
- The Board of Directors shall prescribe the method of election of members to the FAYETTE COUNTY BOARD OF REALTORS®, INC.
- The Board of Directors shall have the power to expel or suspend any member for cause, in accordance with Article VII of these Bylaws, upon two-thirds (2/3) vote of the Directors present at any regular meeting or any special meeting called for that purpose, provided a quorum is present. (See Paragraph 9 hereunder.)
- The Board of Directors may employ and discharge an Association Executive (See Article XI, Section 5), and may otherwise prescribe their functions. The Board of Directors may also authorize the employment and discharge of other persons as may be necessary to properly conduct the activities of the Board, including legal counsel. The Directors shall fix the terms of compensation for such services rendered.
- The Board of Directors shall have full power in establishing the amount of the bond to be furnished by the person or persons entrusted with the funds of the Board.
- Absence from more than two (2) consecutive, or three (3) cumulative scheduled meetings of the Board of Directors, without an excuse deemed valid by the Board of Directors, during the Board’s fiscal year, will constitute automatic resignation from the Board of Directors. (See Article XI, Section 6. regarding vacancies).
- The Board of Directors shall designate a regular time and place of meeting, at least twelve (12) times per year, which will be duly announced to members. Special meetings of the Board of Directors may be called by the President, or upon written request of twenty percent (20%) of the Directors. Upon receipt of such requests to the Fayette County Board of REALTORS®, Inc., the President shall notify each Director, in writing of such meeting, fixing the time and place thereof not less than seven (7) nor more than fifteen (15) days from the date of said notice. Attendance at a regular or called meeting of the Board of Directors by a minimum of eight (8) Directors in attendance at the beginning of a meeting shall constitute a quorum, unless otherwise called for in these Bylaws. The affirmative vote of a majority of Directors present, shall constitute an action of the Board of Directors, if a quorum is present when the vote is taken.
- Each Director shall have one vote and must cast it in person. No vote by proxy shall be valid.
- A Director may serve no more than six (6) successive years. After one year’s absence as a Director, he may be eligible for re-election or appointment. Time served as an officer will not be considered in the above computation.
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