This Policy Manual supersedes previously issued manuals, or any inconsistent policy statement or memoranda. No oral statements or representations can change the provisions of this Policy Manual.

DEFINITION AND ROLE OF THE BOARD OF DIRECTORS

BOARD OF DIRECTORS: The Bylaws of the Sunapee Region Board of REALTORS® defines the Board of Directors as the governing body of the Board. The Board of Directors of the Corporation shall be the governing body of the Corporation and shall have control and oversight of all the business and affairs of the Corporation and shall authorize all expenditures of funds. The Board of Directors shall contract, engage or employ such executive, legal, and office personnel it deems necessary to care for and maintain the properties of the Corporation and otherwise conduct the administrative business and operations of the Corporation. The Board of Directors shall have the right to audit all books and accounts at any time without notice. Except as otherwise provided in the Bylaws, the action of the Board of Directors shall be final.

Elected Officers

• President
• Vice President
• Treasurer
• Secretary

Board of Directors

• Elected Officers
• Immediate Past President
• Directors at least (5) 3 year terms, staggered
• State Director (President)
• State Director (Vice President)
• NNEREN Director (3 year term, appointed by the Board)
• NNEREN Alternate (3 year term, appointed by the Board)

Duties of the Officers and Directors

The Board President shall be the chief executive officer of the Corporation and shall preside at its meetings and shall perform all the duties of the President through authority of the Bylaws and subject to Board adopted policy and, as required, subject to confirmation of the Board of Directors.

The Vice President acts in absence of the President, but may be assigned special duties and responsibilities. Is Chair of the Honor Society.

The Treasurer is ordinarily responsible for the financial records of the corporation. The Treasurer shall, prior to the end of each fiscal year, prepare a budget with the Finance Committee, reflecting projected costs and expenses of the Corporation for the next fiscal year, and projected income from all sources for the next fiscal year. The budget shall be submitted to the Board of Directors of the Corporation for approval on a date not less than 30 days prior to the first day of the next fiscal year.

In January, new signature forms are sent to the Bank with signatures from the President, Treasurer, Board Administrator and NHAR staff (Diana Dunning).

Two (2) signatures are required on checks over $500.00.

The Secretary is in charge of corporate books and records (minutes, resolutions, etc.).

NNEREN Director should be present at each Board of Directors meeting to make a report (5/11/07).

AFFILIATES: Affiliates Day is held in the month of October. The ‘Affiliate Minute’ will be on every General Membership Meeting agenda. The Affiliates will provide a raffle gift (in addition to the Host Office raffle gift) at every General Membership Meeting starting in 2007. (11/10/06)

AUDIT COMMITTEE:

The Board of Directors has the right to audit all books and accounts at any time without notice and serves as the audit committee. (Amended 02/13/09)

ADVERTISING:

½ page ROTY ad in NHAR Convention program.

AWARDS:

• REALTOR® Of The Year – nominations for candidates for ROTY are submitted by the membership. Candidates complete the Nomination Form. The ROTY Committee reviews the Nomination Forms and selects the ROTY.
• Affiliate Of The Year is announced at Affiliates Day.
• Distinguished Service Award to recognize members for their service and contribution to the board over the years and to have this awarded sporadically at the discretion of the President with the approval of the Board of Directors. (Adopted 2/9/07), (Amended 4/9/10)
• NAR REALTOR® Emeritus Status is granted by National to any person who has held membership in NAR for a cumulative period of 40 years in one or more Associations of REALTORS®, upon approval of the NAR Board of Directors. NAR waives national member dues at the first quarter at which approval is granted. NHAR waives the state member dues. SRBR waives the local member dues (8/10/07).

AWARDS/Gifts to order:

• Plaque for ROTY (circle pin with year is provided by NHAR) (Amended 4/9/10)
• Plaque for Affiliate Of The Year
• Presidents’ plaque
• GRI Designation frame for certificate

BOARD ADMINISTRATOR/Executive Officer:

NHAR Administrator Contract (up for renewal yearly in August)

Administrator Expenses:

• AE Institute Expense  
• ¼ NAR Leadership Summit Expense  
• Mileage to attend Board of Directors and Membership Meetings

BYLAWS: Compare bylaws with the NAR Model Bylaws to ensure they include all of the appropriate policies. To be in compliance, NAR recommends they be updated at least every two (2) years and sent to NAR for approval.

CONFLICTS OF INTEREST:

It is the policy of the Sunapee Region Board of REALTORS® to ask individuals with a potential or real conflict to disclose it to the board prior to discussion and voting.  (Amended 02/13/09)

CONTRIBUTIONS:

Requests for contributions or donations must be submitted to the board in writing by the 1^st of August for budget approval for the following year. (1/11/08)

CONVENTIONS & MEETINGS:

The following amounts are approximate guidelines. (Amended 4/09/10)

• April- $600: Covers cost of 2 leaders (present & future/officers or committee chairs) to attend NHAR Leadership Symposium. All other expenses subsidized by NHAR.
• Aug- $400: NAR Chicago Leadership Summit. Covers airfare, airport shuttle from airport/hotel, and one meal for Vice President.
• Fall- $1500: Allocated for President & Vice President to attend NHAR Fall Convention  [room, meals, (early) registration, and mileage]. (Adopted 6/11/10)
• Fall- $750: Allocated for ROTY to attend NHAR Fall Convention [room, meals, (early) registration, and mileage].
• Nov- $2000: Allocated for President to attend NAR Convention

DOCUMENT RETENTION:

The Document Retention Policy of the Sunapee Region Board of REALTORS® is modeled after NHAR and NAR recommended policy and is hereby attached as Appendix A.

(Amended 02/13/09)

EDUCATION: Typically four (4) courses, including one core course are offered annually. The Committee shall schedule the course, instructor, room and refreshments when applicable. The Chair should get the President’s approval so as not to conflict with any other board event. The cost of room rental, fees for course presenters, materials and refreshments should be approved by the President. (2/9/05). Non-members pay $35.00 for a course (1/11/08).

FINANCE: The Board of Directors shall administer the day-to-day finances of the Board.

• Withdrawals: Capital expenditures in excess of $1,000 may not be made unless authorized by a majority vote of the membership at any meeting where a quorum is present (25% of the members eligible to vote). (Bylaws)
• General Operating Reserve: $20,000 shall be maintained as a General Operatin Reserve, to meet unexpected expenses.(10/12/07)

FINANCIALS: Available to the membership upon request (3/10/06).

FINANCE COMMITTEE: The Finance Committee shall consist of the Treasurer, President, Vice President, Past President, Affiliate Member Liaison and Board Administrator and will review the annual budget to present to the board of directors for approval. (7/14/06)

INSTALLATION OF OFFICERS & DIRECTORS: Takes place at the December membership meeting.

LEGAL & ACCOUNTING:

Accountant retained for consultation and Tax preparation:

Kathleen E. Sweeney, CPA
PO Box 1259
Center Harbor NH 03226
Tele: 603-253-4011

Legal retained as needed:

W. Michael Todd, PLLC
159 Old Main Street
PO Box 888
New London NH 03257
Tele: 603-526-9020   FAX 603-526-4940

MAILING LIST: Free to members and Affiliates with the understanding that they are not for resale. There is a $25.00 fee – labels only, for other Affiliates or REALTORS®.

Labels are not for sale to non-REALTOR® members. (5/13/05)

MAPS: SRBR maps are created, subsidized and circulated by the board to the membership.

MEETINGS: Meetings will follow a written agenda. Minutes will be prepared after the meeting to provide a concise summary of important matters discussed and actions taken or conclusions reached. Minutes should be drafted so as not to include comments that may lead to antitrust violations; and then reviewed before they are distributed and approved.

Approved minutes available to membership upon request (8/10/07).

All minutes will be kept in the Board Office, including minutes of any committee meetings. (Amended 02/13/09)

DR MEETINGS: Offered two (2) times per year. The 1^st Wednesday in the months of May and November.

MEMBERSHIP MEETINGS: The Host Office is responsible for taking reservations, calling the restaurant with the count and a small raffle prize for a drawing. The host office should arrive at least ½ hour prior to the meeting to check in the reservations at the door and collect the fee for the meeting/meal.

Each attendee gets one FREE raffle ticket for the drawings.

PROGRAM CHAIR: Responsible for the Membership Meeting program/speakers, restaurant choice and setting cost of the meeting. The set cost should cover the expense of the meals, room rental, tax, gratuity and guests’ meals. Occasionally, the board will subsidize a portion of the expense. (8/10/07)  Send necessary information needed for the EO to create meeting announcement at least one (1) month before the meeting in order to get the notice out to the membership in a timely fashion. (Amended 3/12/10)

PUBLIC RECORDS

The following public records are available to be viewed at the Board Office, upon request:

Organization/Governing Documents, Conflict of Interest Policy, Form 990, Financial Statements, Audit Report. (Amended 02/13/09)

MEMORIAL GIFTS: A $50.00 monetary gift, ‘In Memory Of’ to a charity, and or flowers,(amended 10/12/07) will be handled on a case-by-case basis, but the board will always send a Sympathy card. (9/8/06)

ORIENTATION: Local Board Orientation is offered monthly, usually the 2 ^rd Wednesday of the month and administered by the Membership Committee.

GRIEVANCE COMMITTEE:

Members of the Grievance Committee must have attended the NHAR Professional Standards Workshop within the last two (2) years. (1/8/06)

The function of the Committee is, understood as similar to that of a grand jury, to review ethics complaints and arbitration requests to determine if, taken as true on their face, a hearing is to be warranted. It does not conduct hearings and does not decide whether there is a violation. It does not mediate or arbitrate business disputes.

PROFESSIONAL STANDARDS:

Members of the Professional Standards and must have attended the NHAR Professional Standards Workshop within the last two (2) years. (1/8/06)

The function of the Committee is, understood as similar to a court, to make decisions on matters involving ethics or arbitration.

The Committee will annually review the changes to the NAR Code of Ethics and Arbitration Manual and present any changes to the Board of Directors for approval.

REQUEST TO FILE A COMPLAINT:

Request to file a Code of Ethics complaint or request for arbitration is made through the Board Administrator (aka Chief Staff Executive or aka Executive Officer).

TRI-BOARD PROFESSIONAL STANDARDS COMMITTEE:

The Tri-Board Agreement is renewed annually in January, with signatures from the Presidents of the following participating boards: Greater Claremont, Sunapee Region and the Upper Valley Board of REALTORS®.

The Tri-Board Professional Standards Committee is available when needed (Amended 8/10/07).

RED ALERT CARDS: Available to the membership(3/10/06) from the Orientation Chair and included in the Orientation packet (8/10/07).

SCHOLARSHIPS: At least one (1) $500 Scholarship will be awarded to one (1) high school annually to be rotated amongst the high schools in their alphabetical order as follows: (11/10/06) (Amended 3/12/10)

Kearsarge Regional High School
Lebanon High School
Merrimack Valley High School
Newport High School
Sunapee High School

SRBR BROCHURE: Inserted in membership applications.

WEB SITE: www.srbr.net replaced the mailed quarterly newsletter and Affiliate brochure.

WHISTLEBLOWER:

It is the policy of the Sunapee Region Board of REALTORS® to encourage both staff and volunteers to come forward with credible information on illegal practices, without retribution. (Amended 02/13/09)

                        Sunapee Region Board of REALTORS^Ò, Inc.

     Policy, Procedures and Guideline for Fees, Fines and Assessments

POLICY & PROCEDURES		FEE / FINE SCHEDULE
Affiliate Members		One-time application fee and dues billed   per Affiliate office (not each member).
Secondary Members   Waive local orientation attendance.     Attendance at 3 monthly membership   meetings per fiscal year.		Waive one-time application fee.
REALTOR® transfers to SRBR from another board or those with less than two years REALTOR® membership.  (amended 2/9/05)		Waive one-time application fee.
New Member Office or       (amended 2/9/05) New Branch Office              (amended 2/9/05) Or Seasonal Satellite Office (amended 1/8/06)		$100.00 set up fee.
Mailing Labels /Email Addresses   Free to members and affiliates.   No resale to non-members.		$25.00 fee for members & affiliates of other boards.
No Shows @ Membership Meetings                                                              (amended 2/9/05)		Failure to cancel reservation in a timely fashion - member will be billed the cost of the meeting. Health or family emergencies are exceptions that may be waived by the President.
Late comers or those who attend without a reservation for the  Membership Meetings		Member will be responsible for cost of the meeting.
BYLAWS: Article and Section
Article V – Qualification & Election
Sec. 1 – Application for membership within 14 days of being hired		Failure to comply - $25
Sec. 3a – Applicant to be sworn in within 120 days of being elected		After 120 days, applicant will be advised in writing that he has 30 additional days to be sworn in (copy to DR).  Failure to comply – immediate termination from Board.
Sec. 5 – Quadrennial Code of Ethics Training		Refresher course every four years.  Failure to take same will result in membership suspension until such time as training is completed.
Sec. 6 – Status change notification to Board within 14 days;		Failure to comply - $25
A non-principal REALTORÒ who becomes a principal must satisfy all requirements within 30 days		Failure to comply within 30 days – subject to termination of membership unless otherwise directed by Board of Directors.
Article VI – Privileges & Obligations
Sec. 12 – DR’s listing of all individuals licensed in office in January.		Failure to comply - $25
Article X – Dues & Assessments
Sec. 3 – Dues payable by first day of January		Late fee for dues payment received after January 15th - $50; After February 1st - $100.  Also see Sec. 4 below
Sec. 4 – Non payment of obligations		One month late – subject to suspension by BOD; Two months late – subject to termination by BOD; Three months late – automatic termination.
Article XII – Meeting Attendance
Sec. 8 – Attendance at 3 monthly membership meetings per fiscal year		Failure is construed as resignation.  $75 reinstatement fee, plus all unpaid balances. Final notice letter to DR and cc: agent. Notify NNEREN of non-member status one week from date of letter.
ETHICS/ARBITRATION - NAR MANUAL
Ethics Hearings		$250.00 administrative processing fee should the respondent be found in violation of the Code of Ethics.                      (amended 7/11/08)
Request for Arbitration (Complainant)		$250.00 deposit required      (amended 7/11/08)
“        “         “     -  Notice to Respondent		$250.00 deposit required      (amended 7/11/08)
ETHICS/ ARBITRATION Hearings DISCIPLINE Discipline imposed by SRBR Professional Standards Committee Hearing Panel		Failure to comply by the date or date(s) specified will result in a $300.00 fine and a three (3) month suspension from the membership.           (amended 7/11/08)