THE REALTY INVESTMENT CLUB OF HOUSTON

BYLAWS

ARTICLE I

 

NAME

The name of this organization is The Realty Investment Club of Houston.

 

ARTICLE II

PURPOSES

The purposes of this organization shall be:

  1. To foster scientific study and research in the field of real estate investment.
  2. To improve the methods and techniques of real estate investment.
  3. To contribute to the improvement of the teaching and understanding of real estate investment.
  4. To develop, through education and discussion, sound understanding of real estate investment.
  5. To develop better public understanding and appreciation of real estate investment problems.
  6. To improve, through study and discussion, the status of persons engaged in real estate investment.
  7. To encourage and uphold sound, honest practices and maintain real estate investment activities on a high professional and ethical plane.

 

ARTICLE III

MEMBERSHIP

Membership will be open to the general public who expresses interest to support the purposes of the organization as stated in Article II and are willing to abide by the bylaws of the organization. Members who have paid their dues for the current membership; year are eligible to attend meetings, vote in elections, serve on the Board of Directors, if elected, and enjoy any and all other privileges and rights of this organization.

ARTICLE IV

BOARD OF DIRECTORS

The Board of Directors shall be composed of eleven Directors and four Officers. The purpose of the Board of Directors shall be to establish policies to carry out the purposes of this organization, and to insure the direction and continuity of this organization.

Members who have paid their dues for the current membership year shall be eligible to become members of the Board of Directors.

A majority of the Board of Directors shall constitute a quorum.

The Board of Directors shall hold regular monthly meetings. Special meetings may be called by the President or a majority of the members of the Board of Directors. It is the duty of all members of the Board of Directors to attend all Board of Directors and program meetings.

Any member may attend any Board of Directors meeting except when the Board of Directors signifies its desire to meet in executive session. Members shall have the privilege of addressing the Board of Directors on any subject under discussion but shall have no vote on any question before the Board of Directors and shall not be entitled to make any motion. Interpretation of the Bylaws rests solely with the Board of Directors.

ARTICLE V

OFFICERS

The officers and directors shall be elected for one year beginning with the October Board of Directors meeting through the September Board of Directors meeting of the following year.

The President shall be the chief executive office of the organization and be responsible for the enforcement of all Bylaws. The President will preside over meetings of the Board of Directors and vote in case of a tie.

The President shall appoint the following, subject to the Board of Directors approval or veto: all committee members and chair persons; the President shall be an advisory member of every committee.

The Vice-President shall perform the duties of the President in the event of the President's absence, death, incapacity, or resignation. The Vice-President shall perform these duties when requested by the President or by the Board of Directors.

The Secretary shall take the minutes of all Board of Directors meetings during the term served and maintain the Bylaws, official correspondence, past minutes and all official records not the specific responsibility of other officers.

The Treasurer shall manage all club funds and other assets in accordance with policies established by the Board of Directors.

When leaving office, each Director and Officer shall deliver all organization books and records to the incoming Directors and Officers.

ARTICLE VI

NOMINATIONS AND ELECTIONS

The Nominating Committee shall consist of three (3) members appointed by the President and approved by the Board of Directors. The members will be appointed at the June Board of Directors meeting.

The Nominating Committee shall nominate at least one person for each office and no person for more than one office. The Committee shall immediately notify the nominees and promptly obtain their acceptance. Members of the Nominating Committee may be nominated for office. The nominees of the Nominating Committee shall be announced to the membership at the August program meeting and addit1onal nom1nations (if seconded) shall be accepted from the floor at that time. All nominees may give out campaign material at the September program meeting to give their qualifications for office. Contested offices shall be decided by a majority of those members voting by secret ballot at the September program meeting.

The September Board of Directors meeting shall be a joint meeting of the outgoing and the newly elected Board of Directors to facilitate continuity of club business. The outgoing President shall preside over the meeting but both the incoming and outgoing officers and directors may vote.

ARTICLEE VII

RESIGNATION FROM OFFICE AND VACANCIES

It shall be considered an official tender of resignation if any member of the Board of Directors misses two out of three consecutive regular Board of Directors meetings during a single term of office. The Board of Directors shall vote to accept or reject the resignation using the best interest of the organization as its guide.

A vacancy in any office because of death, resignation, disqualification, incapacity, or any other cause shall be filled immediately by majority vote of the Board of Directors.

A member of the Board of Dire??tors appointed to fill a vacancy shall be appointed for the unexpired term of his predecessor in office.

Any member of the Board of Directors may resign at any time by giving notice to the Board of Directors. Any such resignation shall take effect at the time of receipt of such notice, or at any time specified therein.

ARTICLE VIII

INDEMNIFICATION

The Board of Directors of this organization shall authorize the payment of expenses incurred by, or satisfy a judgment or fine rendered or levied against, a present or former director or officer of the organization, or the estate, executor, administrator, heirs, legatees, or devisees of such person, in an action brought by a third party against such person (whether or not the organization is joined as a party def end ant) to impose a liability or penalty on such person for an act·· alleged to have been committed by such person while a director or officer, or by the organization, or by both. Such person may also be reimbursed for amounts paid and expenses reasonably incurred in settling any such action or threatened action; provided, that the Board of Directors determines in good faith that such director or officer was acting in good faith within what he or she reasonably believed to be the scope of his or her authority and for a purpose which he or she reasonably believe to be in the best interest of the organization or its members.

ARTICTlE IX

MEMBERSHJP DUES

Membership dues shall be as determined by the Board of Directors. Should any member resign, dues may not be refunded unless approved by a majority of the Board of Directors.

 

ARTICLE X

PROGRAM MEETINGS

Program Meetings shall be designed to carry out the purposes of the organization.

 

ARTICILE XI

INVESTMENTS

No investment shall be organized or endorsed by this organization.

 

ARTICLE Xll

AMENDMENTS

Any member of the Board of Directors may propose an. amendment to the Bylaws by notifying the Board of Directors at its monthly meeting, in writing, in duplicate, one copy to the President and one copy to the Secretary.

Any proposed amendment to the Bylaws will be voted on by the Board of Directors at their next regular monthly meeting. If the proposed amendment as presented or as amended is approved by the Board of Directors, the Secretary shall place the proposed amendment in the next newsletter and it will come under discussion and vote at the next program meeting. All proposed amendments must pass by a two-thirds majority of the members present and voting.

As Amended October 6, 2001