BYLAWS OF THE CORE ASSOCIATION OF REALTORS®, INC.
Adopted Date: July 16, 2021
Last amended per NAR mandated policy: January 22, 2020
ARTICLE I – NAME
Section 1. Name. The name of this organization shall be the CORE Association of Realtors®,
Incorporated, hereinafter referred to as the “Association.”
Section 2. REALTOR® Trademark. Inclusion and retention of the Registered Collective Membership
Mark REALTORS® in the name of the Association 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 Association 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 New Jersey
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 Association as a Member of the NATIONAL
ASSOCIATION OF REALTORS® shall include all of Mercer, Hunterdon and Somerset Counties, New
Jersey, as officially approved by the Board of Directors of the NATIONAL ASSOCIATION OF
REALTORS®.
Section 2. Territorial jurisdiction is defined to mean:
(a) The right and duty to control the use of the terms REALTOR® and REALTORS®, subject to the
conditions set forth in these Bylaws and those of the NATIONAL ASSOCIATION OF
REALTORS®, in return for which the Association agrees to protect and safeguard the property
rights of the National Association in the terms.
ARTICLE IV – MEMBERSHIP
Section 1. There shall be six classes of members, as follows:
(a) REALTOR® Members. REALTOR® Members, whether primary or secondary shall be:
(1) Individuals who, as sole proprietors, partners, corporate. officers, or branch office
managers, are engaged actively in the real estate profession, including buying, selling,
exchanging, renting or leasing, managing, appraising for others for compensation,
counseling, building, developing or subdividing real estate, and who maintain or are
associated with an established real estate office in the state of New Jersey or a state
contiguous thereto. All persons who are partners in a partnership, or all officers in a
corporation who are actively engaged in the real estate profession within the state or a state
contiguous thereto shall qualify for REALTOR® membership only, and each is required to
hold REALTOR® membership (except as provided in the following paragraph) in an
association of REALTORS® within the state or a state contiguous thereto, unless otherwise
qualified for Institute Affiliate membership, as described in Section 1(b) of Article IV.
In the case of a real estate firm, partnership, or corporation, whose business activity is
substantially all commercial, only those principals actively engaged in the real estate
business in connection with the same office, or any other offices within the jurisdiction of the
Association in which one of the firm’s principals holds REALTOR® membership, shall be
required to hold REALTOR® membership unless otherwise qualified for Institute Affiliate
membership, as described in Section 1(b) of Article IV. (Amended 1/05)
NOTE: REALTOR® members may obtain membership in a “secondary” association in
another state.
(2) Individuals who are engaged in the real estate profession other than as sole
proprietors, partners, corporate officers, or branch office managers and are associated with a
REALTOR® member and meet the qualifications set out in Article V.
(3) Franchise REALTOR® Membership. Corporate officers (who may be licensed or
unlicensed) of a real estate brokerage franchise organization with at least one hundred fifty
(150) franchisees located within the United States, its insular possessions and the
commonwealth of Puerto Rico, elected to membership pursuant to the provisions in the NAR
Constitution and Bylaws. Such individuals shall enjoy all of the rights, privileges, and
obligations of REALTOR® membership (including compliance with the Code of Ethics)
except: obligations related to association-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 association, state association, and National Association. (Adopted 1/96)
(4) Primary and Secondary REALTOR® Members. An individual is a primary
member if the Association pays state and National dues based on such member. An
individual is a secondary member if state and National dues are remitted through another
association. One of the principals in a real estate firm must be a Designated REALTOR®
member of the Association in order for licensees affiliated with the firm to select the
Association as their “primary” association.
(5) Designated REALTOR® Members. Each firm (or office in the case of firms with
multiple office locations) shall designate in writing one REALTOR® member who shall be
responsible for all duties and obligations of membership, including the obligation to arbitrate (or
to mediate if required by the Association) pursuant to Article 17 of the Code of Ethics and the
payment of association dues (see Article X). 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. (See Article V,
Section 2).
(a) Institute Affiliate Members. Institute Affiliate members shall be individuals who hold a professional
designation awarded by an Institute, Society, or Council affiliated with the NATIONAL
ASSOCIATION OF REALTORS® that addresses a specialty area other than residential brokerage
or individuals who otherwise hold a class of membership in such Institute, Society, or Council that
confers the right to hold office. Any such individual, if otherwise eligible, may elect to hold
REALTOR® or REALTOR-ASSOCIATE® membership, subject to payment of applicable dues for
such membership. (Amended 1/02)
(b) 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 paragraphs (a) or (b) of this
section, have interests requiring information concerning real estate and are in sympathy with the
objectives of the Association.
(c) Public Service Members. Public Service Members shall be individuals who are interested in the real
estate profession as employees of or affiliated with educational, public utility, governmental or
other similar organizations, but are not engaged in the real estate profession on their own account or
in association with an established real estate business.
(d) Honorary Members. Honorary members shall be individuals not engaged in the real estate
profession who have performed notable service for the real estate profession, for the Association, or
for the public.
(e) 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 (2) years of college and at least one (1) college level course in real
estate, but are not engaged in the real estate profession on their own account or not associated with
an established real estate office.
(f) Chief Elected Officer of the State Association. The current chief elected officer of the State
Association of REALTORS® shall be a member in good standing without further payment of dues.
At the direction of the association, the current chief elected officer of the State Association of
REALTORS® may be the delegate who casts the vote for the Association at the Annual Meeting of
the NATIONAL ASSOCIATION of REALTORS®.
Section 2. Privileges of REALTOR® Members REALTOR® members, whether primary or secondary, in
good standing whose financial obligations to the Association are paid in full shall be entitled to vote and to
hold elective office in the Association; may use the terms REALTOR® and REALTORS®; and have the
primary responsibility to safeguard and promote the standards, interests, and welfare of the Association and
the real estate profession.
Section 3. Obligation of REALTOR® Members It shall be the duty and responsibility of every
REALTOR® member of the Association to abide by the Constitution and Bylaws and the rules and
regulations of the Association, 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 the Association, as
from time to time amended.
ARTICLE V- QUALIFICATION AND ELECTION
Section 1. Application
(a) An application for membership shall be made in such manner and form as may be prescribed by the
Board of Directors and made available to anyone requesting it. The application form shall contain
among the statements to be signed by the applicant (1) that applicant agrees as a condition to
membership to thoroughly familiarize himself/herself with the Code of Ethics of the NATIONAL
ASSOCIATION OF REALTORS®, the Constitutions, Bylaws, and Rules and Regulations of the
Association, the State and National Associations, and if elected a member, will abide by the
Constitutions and Bylaws and Rules and Regulations of the Association, State and National
Associations and, if a REALTOR® member, will abide by the Code of Ethics of the NATIONAL
ASSOCIATION OF REALTORS®, including the obligation to arbitrate (or to mediate if required
by the Association) 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 Association, 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 Association 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. (Amended 11/11)
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 Association,
through its membership committee or otherwise, 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 thereto (unless a secondary member), has
no record of recent or pending bankruptcy(i), has no record of official sanctions involving
unprofessional conduct (ii), agrees to complete a course of instruction covering the Bylaws and
rules and regulations of the Association, the Bylaws of the State Association, and the Constitution
and Bylaws and Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS®, and shall
pass such reasonable and nondiscriminatory written examination 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. (Amended 1/05)
(i) No recent or pending bankruptcy is intended to mean that the applicant or any real estate
firm in which the applicant is a sole proprietor, general partner, corporate officer, or branch office
manager, is not involved in any pending bankruptcy or insolvency proceedings or, has not been adjudged
bankrupt in the past three (3) years. If a bankruptcy proceeding as described above exists, membership
may not be rejected unless the Association establishes that its interests and those of its members and the
public could not be adequately protected by requiring that the bankrupt applicant pay cash in advance for
association and MLS fees for up to one (1) year from the date that membership is approved or from the
date that the applicant is discharged from bankruptcy (whichever is later). In the event that an existing
member initiates bankruptcy proceedings, the member may be placed on a “cash basis” from the date that
bankruptcy is initiated until one (1) year from the date that the member has been discharged from
bankruptcy.
(ii) No record of official sanctions involving unprofessional conduct is intended to mean that the
Association may only consider judgments against the applicant within the past three (3) years of
violations of (1) civil rights laws, (2) real estate license laws, and (3) or other laws prohibiting
unprofessional conduct against the applicant rendered by the courts or other lawful authorities.
(a) Individuals who are actively engaged in the real estate profession other than as sole proprietors,
partners, corporate officers, or branch office managers, or who are licensed as referral agents, 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
Association or a Designated REALTOR® member of another association (if a secondary member)
and must maintain a current, valid real estate broker’s or salesperson’s license or be licensed or
certified by an appropriate state regulatory agency to engage in the appraisal of real property, has no
record of official sanctions involving unprofessional conduct, shall complete a course of instruction
covering the Bylaws and rules and regulations of the Association, the Bylaws of the State
Association, and the Constitution and Bylaws and Code of Ethics of the NATIONAL
ASSOCIATION OF REALTORS®, and shall pass such reasonable and nondiscriminatory written
examinations thereon as may be required by the membership committee, 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. (Amended 5/07)
(iii) No record of official sanctions involving unprofessional conduct is intended to mean that
the Association may only consider judgments against the applicant within the past three (3) years of
violations of (1) civil rights laws, (2) real estate license laws, and (3) or other laws prohibiting
unprofessional conduct against the applicant rendered by the courts or other lawful authorities
(b) The Association will also consider the following in determining an applicant’s qualifications for
REALTOR® membership:
All final findings of Code of Ethics violations and violations of other membership duties in this or any
other REALTOR® association within the past three (3) years
1. Pending ethics complaints (or hearings)
2. Unsatisfied discipline pending
3. Pending arbitration requests (or hearings)
4. Unpaid arbitration awards or unpaid financial obligations to this or any other REALTOR®
association or REALTOR® association MLS
5. Any misuse of the term REALTOR® or REALTORS® in the name of the applicant’s firm
“Provisional” membership may be granted in instances where ethics complaints or arbitration requests (or
hearings) are pending in other associations or where the applicant for membership has unsatisfied discipline
pending in another association (except for violations of the Code of Ethics; see Article V, Section 2(a), NOTE
2), provided all other qualifications for membership have been satisfied. Associations may reconsider the
membership status of such individuals when all pending ethics and arbitration matters (and related discipline)
have been resolved or if such matters are not resolved within six (6) months from the date that provisional
membership is approved. Provisional members shall be considered REALTORS® and shall be subject to all
of the same privileges and obligations of REALTOR® membership. If a member resigns from another
association with an ethics complaint or arbitration request pending, the Association may condition
membership on the applicant’s certification that he/she will submit to the pending ethics or arbitration
proceeding (in accordance with the established procedures of the association to which the applicant has made
application) and will abide by the decision of the hearing panel. (Amended 11/09)
Section 3. Election The procedure for election to membership shall be as follows:
(a) The chief staff executive (or duly authorized designee) shall determine whether the applicant is
applying for the appropriate class of membership. If the Association has adopted provisional
membership, applicants for REALTOR® membership may 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 final review of the application by the Board of Directors.
(b) 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 (for example, completion of a mandatory orientation program)
within sixty (60) days from the Association’s receipt of their application, membership may, at the
discretion of the Board of Directors, be terminated. 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. The Board of Directors shall vote on the applicant’s
eligibility for membership. If the applicant receives a majority vote of the Board of Directors,
he/she shall be declared elected to membership and shall be advised by written notice.
(c) The Board of Directors may not reject an application without providing the applicant with advance
notice of the findings, an opportunity to appear before the Board of Directors, to call witnesses on
his/her 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.
(d) If the Board of Directors determines that the application should be rejected; it shall record its
reasons with the chief staff executive (or duly authorized designee). If the Board of Directors
believes that denial of membership to the applicant may become the basis of litigation and a claim
of damage by the applicant, it may specify that denial shall become effective upon entry in a suit by
the Association for a declaratory judgment by a court of competent jurisdiction of a final judgment
declaring that the rejection violates no rights of the applicant. (Adopted 1/98, Amended 1/05,
Amended 1/17)
Section 4. New Member Code of Ethics Orientation
Applicants for REALTOR® membership and provisional REALTOR® members (where applicable) shall
complete an orientation program on the Code of Ethics of not less than two (2) hours and thirty (30) minutes
of instructional time. This requirement does not apply to applicants for REALTOR® membership or
provisional members who have completed comparable orientation in another association, provided that
REALTOR® membership has been continuous, or that any break in membership is for one (1) year or less.
Failure to satisfy this requirement within ninety (90) days of the date of application (or, alternatively, the date
that provisional membership was granted), will result in denial of the membership application or termination
of provisional membership.
NOTE: Orientation programs must meet the learning objectives and minimum criteria established from time
to time by the NATIONAL ASSOCIATION OF REALTORS®.
Section 5.Continuing REALTOR® Code of Ethics Training
Effective January 1, 2019, through December 31, 2021, and for successive three-year periods thereafter,
each REALTOR® member of the Association (with the exception of REALTOR® members granted
REALTOR® Emeritus status by the National Association) shall be required to complete ethics training of
not less than two (2) hours and thirty (30) 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 REALTOR® association, the State Association of REALTORS®, the
NATIONAL ASSOCIATION OF REALTORS®, 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 three year cycle shall not be required to complete additional ethics training until a
new three year cycle commences.
Failure to satisfy the required periodic ethics training shall be considered a violation of a membership
duty. Failure to meet the requirement in any three year cycle will result in suspension of membership for
the first two months (January and February) of the year following the end of any three year cycle, or until
the requirement is met, whichever occurs sooner. On March 1 of that year, the membership of a member
who is still suspended as of that date will be automatically terminated. (Adopted 1/01, Amended 11/08,
Amended 11/16, Amended 1/20)
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 Association within thirty (30) days. A REALTOR®
(non-principal) who becomes a principal in the firm with which he/she has been licensed or,
alternatively, becomes a principal in a new firm which will be comprised of REALTOR® principals
may be required to satisfy any previously unsatisfied membership requirements applicable to
REALTOR® (principal) members but shall, during the period of transition from one status of
membership to another, be subject to all of the privileges and obligations of a REALTOR®
(principal). If the REALTOR® (non-principal) does not satisfy the requirements established in
these Bylaws for the category of membership to which they have transferred within thirty (30) days
of the date they advised the Association of their change in status, their new membership application
will terminate automatically unless otherwise so directed by the Board of Directors.
A REALTOR® who is transferring his/her license from one firm comprised of REALTOR®
principals to another firm comprised of REALTOR® principals shall be subject to all of the privileges
and obligations of membership during the period of transition. If the transfer is not completed within
thirty (30) days of the date the Association is advised of the disaffiliation with the current firm,
membership will terminate automatically unless otherwise so directed by the Board of Directors.
(Amended 1/98)
(The Board of Directors, at its discretion, may waive any qualification which the applicant has already
fulfilled in accordance with the Association’s Bylaws.)
(a) Any application fee related to a change in membership status shall be reduced by an amount equal
to any application fee previously paid by the applicant.
(b) 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. (Amended 1/05)
ARTICLE VI – PRIVILEGES AND OBLIGATIONS
Section 1. The privileges and obligations of members, in addition to those otherwise provided in these
Bylaws, shall be specified in this Article.
Section 2. Any member of the Association may be reprimanded, fined, placed on probation, suspended,
or expelled by the Board of Directors for a violation of these Bylaws and association rules and
regulations consistent with these Bylaws, after a hearing as provided in the Code of Ethics and
Arbitration Manual of the Association. Although members other than REALTORS® are not subject to
the Code of Ethics, nor its enforcement by the Association, 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 oh 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 association, the
State Association, and the NATIONAL ASSOCIATION OF REALTORS®.
Section 3. Discipline of REALTOR® Members. Any REALTOR® member of the Association 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
Association, 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, how.
ever, that if any member submitting the resignation is indebted to the Association
for dues, fees, fines, or other assessments of the Association or any of its services, departments, divisions,
or subsidiaries, the Association may condition the right of the resigning member to reapply for membership
upon payment in full of all such monies owed. Such resignation shall not affect the right of the Association
to undertake collection proceedings to be paid any such amounts as are due and owing.
Section 5. If a member resigns from the Association or otherwise causes membership to terminate with
an ethics complaint pending the complaint shall be processed until the decision of the Association with
respect to disposition of the complaint is final by this Association (if respondent does not hold
membership in any other association) or by any other association in which the respondent continues to
hold membership. If an ethics respondent resigns or otherwise causes membership in all Boards to
terminate before an ethics complaint is filed alleging unethical conduct occurred while the respondent
was a REALTOR®, the complaint, once filed, shall be processed until the decision of the Association
with respect to disposition of the complaint is final. In any instance where an ethics hearing is held
subsequent to an ethic respondent’s resignation or membership termination, any discipline ratified by the
Board of Directors shall be held in abeyance until such time as the respondent rejoins an association of
REALTORS®.
(a) If a member resigns or otherwise causes membership to terminate, the duty to submit to arbitration
(or to mediation if required by the Association) continues in effect even after membership lapses or
is terminated, provided that the dispute arose while the former member was a REALTOR®.
(Amended 1/00 and 11/11)
Section 6. REALTOR® Members. REALTOR® members, whether primary or secondary, in good
standing whose financial obligations to the Association are paid in full shall be entitled to vote and to
hold elective office in the Association; may use the terms REALTOR® and REALTORS®, which use
shall be subject to the provisions of Article VIII; and have the primary responsibility to safeguard and
promote the standards, interests, and welfare of the Association and the real estate profession.
(a) If a REALTOR® member is a sole proprietor in a firm, a partner in a partnership or an officer in a
corporation, and is suspended or expelled, the firm, partnership or corporation shall not use the
terms REALTOR® or REALTORS® in connection with its business during the period of
suspension, or until readmission to REALTOR® membership, or unless connection with the firm,
partnership or corporation is severed, or management control is relinquished, whichever may apply.
The membership of all other principals, partners, or corporate officers shall suspend or terminate
during the period, of suspension of the disciplined member, or until readmission of the disciplined
member or unless connection of the disciplined member with the firm, partnership, or corporation is
severed, or unless the REALTOR® who is suspended or expelled removes himself/herself from any
form or degree of management control of the firm for the term of the suspension or until
readmission to membership, whichever may apply. Removal of an individual from any form or
degree of management control must be certified to the association by the member who is being
suspended or expelled and by the individual who is assuming management control, and the
signatures of such certification must be notarized. In the event the suspended or expelled member is
so certified to have relinquished all form or degree of management control of the firm, the
membership of other partners, corporate officers, or other individuals affiliated with the firm shall
not be affected, and the firm, partnership or corporation may continue to use the terms REALTOR®
and REALTORS® in connection with its business during the period of suspension of until the
former member is admitted to membership in the Association. The foregoing is not intended to
preclude a suspended or expelled member from functioning as an employee or independent
contractor, providing no management control is exercised. Further, the membership of
REALTORS® other than principals who are employed or affiliated as independent contractors with
the disciplined member shall suspend or terminate during the period of suspension of the disciplined
member or until readmission of the disciplined member, or unless connection of the disciplined
member with the firm, partnership, or corporation is severed, or management control is
relinquished, or unless the REALTOR® member (non-principal) elects to sever his/her connection
with the REALTOR® and affiliate with another REALTOR® member in good standing in the
Association, whichever may apply.
If a REALTOR® member other than a sole proprietor in a firm, partner in a partnership, or an officer of
a corporation is suspended or expelled, the use of the terms REALTOR® or REALTORS® by the firm,
partnership or corporation shall not be affected.
(a) In any action taken against a REALTOR® member for suspension or expulsion under Section 6(a)
hereof, notice of such action shall be given to all REALTORS® employed by or affiliated as
independent contractors with such REALTOR® member and they shall be advised that the
provisions in Article VI, Section 6(a) shall apply.
(b) REALTOR® Emeritus Members. REALTOR® Emeritus Members shall have all privileges and
obligations of REALTOR® members except the payment of Association dues.
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®.
Section 8. Affiliate Members. Affiliate members shall have rights and privileges and be subject to
obligations prescribed by the Board of Directors.
Section 9. Honorary Members. Honorary membership shall confer only the right to attend meetings
and participate in discussions.
Section 10. Public Service Members. Public Service Members shall have rights and privileges and be
subject to obligations prescribed by the Board of Directors except that they do not have the right to vote.
Section 11. Student Members. Student Members shall have rights and privileges and be subject to
obligations prescribed by the Board of Directors except they do not have the right to vote.
Section 12. Certification by REALTOR®. “Designated” REALTOR® members of the Association shall
certify to the Association during the month of October 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 membership. If such form is not submitted fully completed by each
Designated REALTOR® on or before October 15 of each year, such Designated REALTOR® Member who
fails to comply shall be suspended from all Association privileges until such census is submitted. 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 X, Section 2(a) of the Bylaws. “Designated” REALTOR®
members shall also notify the Association 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. The Association shall have the
right to use licensing lists as may be promulgated by the New Jersey Real Estate Commission from time to
time for such purposes as may be appropriate.
ARTICLE VII- PROFESSIONAL STANDARDS AND ARBITRATION
Section 1. The responsibility of the Association and of Association members relating to the enforcement of
the Code of Ethics, the disciplining of members, and the arbitration of disputes, and the organization and
procedures incident thereto, shall be governed by the Code of Ethics and Arbitration Manual of the
NATIONAL ASSOCIATION OF REALTORS®, as amended from time to time, which is by this reference
incorporated into these Bylaws, provided, however, that any provision deemed inconsistent with state law
shall be deleted or amended to comply with state law.
Section 2. It shall be the duty and responsibility of every REALTOR® member of this Association to abide by
the Constitution and Bylaws and the rules and regulations of the Association, 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 Association, as from time to time amended.
Section 3. The responsibility of the Association and Association 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 the cooperative professional standards enforcement
agreement entered into by the Association with New Jersey Realtors® 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 Association shall have the
authority to control, jointly and in full cooperation with the NATIONAL ASSOCIATION OF
REALTORS®, use of the terms within its jurisdiction. Any misuse of the terms by members is a
violation of a membership duty and may subject members to disciplinary action by the Board of
Directors after a hearing as provided for in the Association’s Code of Ethics and Arbitration Manual.
(Amended 5/06)
Section 2. REALTOR® members of the Association shall have the privilege of using the terms
REALTOR® and REALTORS® in connection with their places of business within the state or a state
contiguous thereto so long as they remain REALTOR® members in good standing. No other class of
members shall have this privilege. (Amended 1/96)
Section 3. A REALTOR® principal member may use the terms REALTOR® and REALTORS®, only
if all the principals of such firm, partnership, or corporation who are actively engaged in the real estate
profession within the state or a state contiguous thereto are REALTOR® members or Institute Affiliate
members, as described in Section 1(b) of Article IV.
(a) In the case of a REALTOR® principal member 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 holds REALTOR® membership. If a firm, partnership, or corporation
operates additional places of business in which no principal holds REALTOR® membership, the
term REALTOR® or REALTORS® may not be used in any reference to those additional places of
business. (Amended 1/01)
Section 4. Institute Affiliate Members shall not use the terms REALTOR® or REALTORS®, nor the
imprint of the emblem seal of the NATIONAL ASSOCIATION OF REALTORS®.
ARTICLE IX- STATE AND NATIONAL MEMBERSHIPS
Section 1. The Association shall be a member of the NATIONAL ASSOCIATION OF REALTORS®
and the New Jersey REALTORS®. By reason of the Association’s membership, each REALTOR®
member of the Member Board shall be entitled to membership in the NATIONAL ASSOCIATION OF
REALTORS® and the New Jersey REALTORS® without further payment of dues. The Association
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 Association recognizes the exclusive property rights of the NATIONAL ASSOCIATION
OF REALTORS® in the terms REALTOR® and REALTORS®. The Association 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 Association adopts the Code of Ethics of the NATIONAL ASSOCIATION OF
REALTORS® and agrees to enforce the Code among its REALTOR® members. The Association and
all of its members agree to abide by the Constitution, Bylaws, Rules and Regulations, and policies of the
National Association.
ARTICLE X – DUES AND ASSESSMENTS
Section 1. Application Fee. The Board of Directors may adopt an application fee for REALTOR®
membership in reasonable amount, not exceeding three (3) 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 Association upon final approval of the
application. (Amended 1/02)
Section 2. Dues. The annual dues of members shall be as follows:
(a) Designated REALTOR® Members Dues. The annual dues of each Designated REALTOR®
member shall be in such amount as established annually by the Board of Directors, plus an
additional amount to be established annually by the Board of Directors times the number of real
estate salespersons and licensed or certified appraisers who (1) are employed by or affiliated as
independent contractors, or who are otherwise directly or indirectly licensed with such
REALTOR® member, and (2) are not REALTOR® members of any 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 (1) and (2) of this paragraph shall not be included in the computation of dues if the Designated
REALTOR® 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. 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 Association. (Amended 1/05)
(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 is actively engaged in the real estate profession as defined in
Article Ill, 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 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, corporate officer, or branch office
manager of the entity.
A REALTOR® with a direct or indirect ownership interest in an entity engaged exclusively in
soliciting and/or referring clients and customers to the REALTOR® for consideration on a
substantially exclusive basis shall annually file with the Association on a form approved by the
Association a list of the licensees affiliated with that entity and shall certify that all of the
licensees affiliated with the entity are solely engaged in referring clients and customers and are
not engaged in listing, selling, leasing, renting, managing, counseling, or appraising real property.
The individuals disclosed on such form shall not be deemed to be licensed with the REALTOR®
filing the form for purposes of this section and shall not be included in calculating the annual dues
of the Designated REALTOR®. Designated REALTORS® shall notify the Association within
three (3) days of any change in status of licensees in a referral firm.
The exemption for any licensee included on the certification form shall automatically be revoked
upon the individual being engaged in real estate licensed activities (listing, selling, leasing,
renting, managing, counseling, or appraising real property) other than referrals, and dues for the
current fiscal year shall be payable.
Membership dues shall be prorated for any licensee included on a certification form submitted to
the Association who during the same calendar year applies for REALTOR® or REALTORASSOCIATE® membership in the Association. However, membership dues shall not be prorated if the licensee held REALTOR® or REALTOR-ASSOCIATE® membership during the preceding calendar year. (Amended 11/09 and 11/14)
(b) REALTOR® Members Dues. The annual dues of REALTOR® members other than the Designated
REALTOR® shall be as established annually by the Board of Directors. (Amended 1/05)
(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 ASSOCIATION OF REALTORS®.
(d) REALTOR® Emeritus Status. The annual dues of members with REALTOR® Emeritus status
conferred by the National Association of REALTORS® shall be waived.
(e) Affiliate Members. The annual dues of each Affiliate member shall be as established annually by
the Board of Directors. (Amended 1/05)
(f) Honorary Members. Dues payable, if any, shall be at the discretion of the Board of Directors.
(Amended 1/05)
(g) Public Service Members. The annual dues of all Public Service members shall be at the discretion
of the Board of Directors and consistent for the current calendar year. (h) Student Members. The annual dues of Student Members shall be at the discretion of the Board of Directors and consistent for the current calendar year.
(i) Others. The dues of REALTOR® members who are past presidents and past treasurers of the
National Association or recipients of its Distinguished Service Award shall be as determined by the
Board of Directors. (Amended 11/2013)
Section 3. Dues Payable. Dues for all members shall be payable annually in advance on the first day of
January. Dues for new members shall be computed from the date of application and granting of
provisional membership. (Amended 1/98, Amended 1/05)
(a) In the event a sales licensee or licensed certified appraiser who holds REALTOR® membership is
dropped for nonpayment of association dues, and the individual licensee remains with the
Designated REALTOR®’s firm, the dues obligation of the “designated” REALTOR® (as set forth in
Article X, Section 2 [1) 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 thirty (30) days
of the notice of termination.
Section 4. Nonpayment of Financial Obligations. If annual dues, fees, fines or other assessments are not
paid by their due date, an administrative fee shall be assessed. This fee shall be determined by and
subject to the same annual approval process as set forth in Article X, Section 1 of these Bylaws and shall
not be more than 20% of the amount due. If dues, fees, fines or other assessments are not paid within one
(1) month after the due date, the non-paying Member is subject to suspension. Two (2) months after the
due date, membership of the non-paying Member may be terminated, three (3) months after the due date,
membership of the non-paying member and his/her office automatically terminates unless within that
time the amount due is paid. However, no action shall be taken to suspend or expel a Member for non-payment of disputed amounts until the accuracy of the amount owed has been confirmed by the Board of
Directors. A former member who has had his membership terminated for non-payment 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 Association or any of its services, department, 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. Deposits. All monies received by the Association for any purpose shall be deposited to the
credit of the Association in a financial institution or institutions selected by resolution of the Board of
Directors.
Section 6. Expenditures. The Board of Directors shall oversee the finances of the Association.. Monies
needed to repair or replace essential facilities and equipment may be expended by the Board of Directors
as necessary.
(a) The President shall be compensated annually with an amount to be approved through the Finance
Committee and approved annually by the Board of Directors. Payments to be dispersed semi-annually.
Section 7. Annual Budget. The Board of Directors shall adopt and approve an annual budget to provide
for the orderly functioning of this Association, a copy of which shall be on file for review in the
Association office by any REALTOR® Member of this Association. The budget for the following year
shall be approved and adopted no later than October 31st each year.
ARTICLE XI – OFFICERS AND DIRECTORS
Section 1. Officers. President, President Elect, 1st Vice President, Treasurer, and Immediate Past
President shall have a 1-year term, with a 2nd year option with 2-year term max. During the transitional
year immediately upon merger we will have two (2) Vice Presidents (President Elect and 1st Vice
President) for the remainder of the one-year term ending December 31, 2019, at which time, the
President Elect will become President in 2020.
As of January 1, 2020, the officers of the Association shall be: a President, Immediate Past President,
President-Elect, and Treasurer, all of whom will become REALTOR® Members of the Board of
Directors and shall serve for a one-year term. The President-Elect shall automatically become President
the following year.
Section 2. Duties of Officers. The duties of the officers shall be such as their titles, by general usage,
would indicate and such as may be assigned to them by the Board of Directors. The officers shall serve
on the Executive Committee of the Board of Directors. The Chief Executive Officer shall be an Ex-Officio, non-voting member of the Executive Committee and the Board of Directors. The general duties
of the Executive Committee shall be to transact business of an emergency or delegated nature between
meetings of the Board of Directors. All actions taken by the Executive Committee shall be reported at
the next meeting of the Board of Directors. It shall be the particular duty of the Chief Executive Officer
to keep the records of the Association and to carry out all necessary correspondence with the
NATIONAL ASSOCIATION of REALTORS® and New Jersey REALTORS®.
Section 3. Board of Directors. The governing body of the Association shall be a Board of Directors
consisting of the elected officers including the Immediate Past President, nine (9) REALTOR®
Members, and any Directors of the National Association of REALTORS from this Association. The
Chief Executive Officer will be a non-voting member of the Board of Directors. During any transition,
the Board membership shall be governed by the governing Plan of Merger. 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 lesser terms as may be necessary to
complete the first fiscal year. Should the Board of Directors determine that re-staggering of director
terms is required to balance director continuity with new perspective, the Board of Directors shall
determine those directors whose current three-year term should be shortened in order to elect new
directors with terms that maintain the staggered terms of the Board of Directors which seeks to maintain
approximately two-thirds experienced members on the Board at all times. The determination of which
individual director terms should be shortened in a re-staggering may be chosen by lot. There shall not be
less than 50 percent representation on the Board of Directors of Broker/Owner or Managers. Should the
percentage fall below 50 percent representation, it should be addressed at the time of election and
appointment of the Board as described in Section 4. Thereafter, as many Directors shall be
elected/appointed each year as are required to fill the vacancies within the prescribed formula as set
forth herein.
(a) Term Limits. No director shall serve for more than two (2) consecutive three (3)-year terms, unless
serving as an officer.
Section 4. Appointment/Election of Officers and Directors.
(a) At least two (2) months before the annual election, a Nominating Committee of five (5)
REALTOR® Members shall be appointed by the President with the approval of the Board of
Directors. The Nominating Committee shall select one (1) candidate for each vacant office
including officers and directors, except that the directors of the NATIONAL ASSOCIATION of
REALTORS® from the Association shall be: 1) the current Association Immediate Past President;
and, 2) any additional NATIONAL ASSOCIATION of REALTORS® directors from the Association
shall be appointed by the President, subject to the approval of the Board of Directors. The report of the
Nominating Committee shall be transmitted to each member eligible to vote at least three (3) weeks
preceding the election. Additional candidates for the offices to be filled may be placed in
nomination by petition signed by at least ten percent (10%) of the REALTOR® members eligible to
vote. The petition shall be filed with the Chief Executive Officer at least two (2) weeks before the
election. The Chief Executive Officer shall send notice of such additional nominations to all
Members eligible to vote before the election. Except as provided for in Section 3 of this Article, no
person shall be elected to hold an elective position in this Association (Officer or Director) unless
he or she has been a REALTOR® Member of this Association for not less than three (3) continuous
years immediately preceding the taking of such office or directorship.
(b) Voting in Association matters shall be done by REALTOR® members in good standing. For the
annual election of officers and directors, members will have the option of voting in person at the
Annual Meeting or voting by proxy electronically.
Section 5. Vacancies. Persons to fill vacancies among the Officers and the Board of Directors shall be
appointed by the President with the ratification of a simple majority vote by the Board of Directors.
Section 6. Indemnification. The Association shall indemnify, in the manner and to the full extent
permitted by the Nonprofit Corporations Act, as amended, any “corporate agent” of the Corporation (as
such term is defined in Section 15A:3-4 of the Nonprofit Corporations Act) who was or is a party to, or
is threatened to be made a party to, any “proceeding” (as such term is defined in said Section 15A:3-4),
whether or not by or in the right of the Association, by reason of the fact that such person is or was a
corporate agent of the Association. Where required by law, the indemnification provided for herein shall
be made only as authorized in the specific case upon a determination that indemnification of the
corporate agent is proper in the circumstances. The Association may, to the full extent permitted by law,
purchase and maintain insurance on behalf of any such person against any liability which may be
asserted against him or her. To the full extent permitted by law, the indemnification provided herein
shall include “expenses” (as such term is defined in said Section 15A:3-4), and in the manner provided
by law, any such expenses may be paid by the Association in advance of the final disposition of such
proceeding provided a written undertaking is obtained from the recipient of such reimbursement
pledging to repay the same to the Association in the event a court of competent jurisdiction determines
indemnification was not required by the Association under law or these bylaws. The indemnification
provided herein shall not be deemed to limit the right of the Association to indemnify any other person
for any such expenses, nor shall it be deemed exclusive of any other rights to which any person seeking
indemnification from the Association may be entitled under any agreement, vote of the Directors, or
otherwise, both as to action in his or her official capacity and as to action in another capacity while
holding such office.
Section 7. Removal of Officers and Directors. In the event that an Officer or Director is deemed to be
incapable of fulfilling the duties for which elected, but will not resign from office voluntarily, the
Officer or Director may be removed from office under the following procedure:
The Board of Directors may remove a duly elected officer/director and declare the office vacant under
the following conditions:
(a) Conduct on the part of an elected officer which is not in the best interest of the Association.
(b) Absence from two (2) consecutive meetings in a calendar year of the Board of Directors whether
regular or special meetings unless for good cause submitted to the Board of Directors in writing.
Section 8. Chief Staff Executive. There shall be a chief staff executive, appointed by the Board of
Directors, who shall be the chief administrative officer of the Association. The chief staff executive
shall have the exclusive 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 Association shall be held on or before
December 1 each year, the date to be approved by the Board of Directors.
Section 2. Meetings of Directors. The Board of Directors shall designate a regular time and place of
meetings. A quorum for the transaction of business shall be a majority of the Board of Directors, except
as may otherwise be required by state law. (Amended 05/2013). Special meetings of the Board of
Directors may be called at any time by the President or by a majority of Board of Directors members
upon three (3) days written notice.
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 (10%) percent of the
members eligible to vote.
Section 4. Notice of Meetings. Written notice of membership meetings shall be given to every
Member entitled to participate in the meeting not less than ten (10) days before the date of the meeting.
If a special meeting is called, it shall be accompanied by a statement of the purpose of the meeting.
Section 5. Quorum. A quorum for the transaction of regular business at membership meetings shall
consist of five percent (5%) of the Association Members eligible to vote or fifty (50) members eligible
to vote, whichever is less, except as may otherwise be required by state law.
Section 6. Business by Electronic Means. To the fullest extent permitted by the law, the Board of
Directors, the Executive Committee and other Committees, as well as any individual member of said
body, may conduct business by electronic means, as long as all persons participating in the meeting can
hear one another and participate. Such participation in a meeting shall constitute presence in person at
the meeting. The Chairperson of the workgroup shall determine whether a meeting will be held
electronically or in-person, and if a meeting is held in-person, the Chair shall have the authority to
determine if any of the participants may participate electronically due to extenuating circumstances.
Section 7. Email Voting. In lieu of a formal meeting in person or a conference call meeting, the Board
of Directors, the Executive Committee and other Committees may vote by email at the discretion of the
President or Chair of said body as long as majorities of the body do not object to a vote being taken by
email on a subject. In order to pass, any email vote must be unanimous by everyone voting, and those
voting must constitute at least a majority of the body.
ARTICLE XIII – COMMITTEES
Section 1. Standing Committees. The President shall appoint from among the REALTOR®
members, subject to confirmation by the Board of Directors, the following standing committees:
• Board of Directors
• Executive
• Finance
• Nominating
• Professional Standards
• Grievance
• Government Affairs
• Community Outreach
Appointments to the Professional Standards and Grievance Committees shall be consistent with the
NATIONAL ASSOCIATION OF REALTORS® Code of Ethics & Arbitration Manual and any
cooperative professional standards enforcement agreement(s) of the Association.
Section 2. Special Committees. The President shall appoint, subject to confirmation by the Board of
Directors, special committees as deemed necessary.
Section 3. Organization. All committees shall be of such size and shall have duties, functions, and
powers as assigned by the President or the Board of Directors except as otherwise provided in these
Bylaws.
Section 4. President. The President shall be an ex-officio member of all standing committees and shall
be notified of their meetings.
Section 5. The President shall designate the chairman of each committee.
ARTICLE XIV – FISCAL AND ELECTIVE YEAR
Section 1. The fiscal year of the Association shall be January 1 to December 31. (Amended 1/05)
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 Association, its Board of Directors, and committees, in all instances wherein its provisions
do not conflict with these Bylaws.
ARTICLE XVI – AMENDMENTS
Section 1. These Bylaws may be amended by a two-thirds (2/3) vote of the Board of Directors at any
meeting, provided that the substance of the proposed change(s) is providing in writing to the entire
Board of Directors at least 14 days in advance. If no such notice was provided, a three-fourths vote (75
percent) of the Board of Directors would be required to amend. However, Article IX of these Bylaws
may be amended only by a majority vote of all REALTORS® Members called for the purpose of
considering said amendments(s) to Article IX.
(a) When Bylaws amendments are mandated by NAR policy, these Bylaws may be automatically
amended to reflect the mandate as of the effective date of the mandatory policy authorized by the
NATIONAL ASSOCIATION OF REALTORS®. The Association shall provide notice of that
change in a regular or special membership communication. (Adopted 1/05)
Section 2. Amendments to these Bylaws affecting the admission or qualification of REALTOR® and
Institute Affiliate members, the use of the terms REALTOR® and REALTORS®, or any alteration in
the territorial jurisdiction of the Association shall become effective upon their approval as authorized by
the Board of Directors of the NATIONAL ASSOCIATION OF REALTORS®.
ARTICLE XVII – DISSOLUTION
Section 1. Upon the dissolution of this Association, the Board of Directors, after providing for the
payment of all obligations, shall distribute any remaining assets to the New Jersey REALTORS® or,
within its discretion, to any other non-profit tax-exempt organization. (Amended 1/05)
ARTICLE XVIII – MULTIPLE LISTING
Section 1. Affiliation. The Association shall retain membership in a Multiple Listing Service in
accordance with NAR policies and procedures regarding the use and availability of a MLS in order to
facilitate the use by Association members of said service.
ARTICLE XIX – VOIDING CURRENT CONSTITUTION & BYLAWS
Section 1. Immediately on the adoption of these Bylaws, all previous Bylaws of the Association, and any
amendment, amendments or additions thereto, become null and void upon signed, verified merger of
Hunterdon Somerset Association of REALTORS® (HSAR) and Mercer County Association of
REALTORS® (MCAR). Now known as CORE Association of REALTORS®.