Commercial Investment Division
Shreveport-Bossier Board Of Realtors, Inc.

PURPOSE

It shall be the purpose of this division to serve as a supplement to the services of the Shreveport-Bossier Board of REALTORS® in upgrading professional business practices and standards in commercial and investment real estate brokerage through on-going education and communication. In the event of any conflict, the National Association of Realtors Code of Ethics and the Shreveport-Bossier Board of REALTORS® Bylaws shall prevail.

BYLAWS

Article I

NAME

Section 1. The name of this organization shall be the Commercial Investment Division of the Shreveport-Bossier Board of REALTORS®, hereinafter called the CID.

Article II

OBJECTS

Section 1. The objects of the CID shall be:

1. To unite those REALTORS®s who are engaged in buying, selling, renting, or leasing for others and for compensation the lands, buildings, businesses and other facilities involved in the commercial and investment real estate business.
2. To foster knowledge, education, integrity, and quality workmanship in the fields of the commercial and investment real estate business.
3. To encourage exchange of specialized information relating to the practice of commercial and investment brokerage among the members of the CID
4. To encourage exchange of specialized information relating to the practice of commercial and investment brokerage among non-members of the CID and non-members of the Shreveport-Bossier Board of REALTORS® through networking at CID sponsored education seminars and events so as to encourage future membership or sponsorship in CID.
5. To encourage CID members and supporters to take an active role in supporting our local community and state through participation in economic development, fostering professional relationships with our universities and governments.

Article III

MEMBERSHIP

Section 1. Membership in the CID shall consist of the following four categories and their membership is subject to approval by the Board of Directors of the CID:

1. Primary membership: Any REALTOR® member of the Shreveport-Bossier Board of REALTORS® in good standing who is substantially engaged in sales, leasing, exchange, appraisal, or other related activities of commercial investment, or business properties (excluding any business consisting solely of the lease and management of single- family residences) may apply for active membership and may participate in the CID activities as hereinafter designated.
2. Secondary membership: All other members of the Shreveport-Bossier Board of REALTORS® who do not meet the requirements of primary membership in the CID established in Section 1 (A) above may apply for Secondary membership.
3. Honorary membership: This classification shall consist of individuals who are members of the Shreveport-Bossier Board of REALTORS® but are not engaged in the real estate business, or who have retired from active participation in the real estate business, or individuals who have performed notable service for the real estate profession and the community. This category shall include non-licensed persons actively involved in the teaching profession in real estate or related fields at institutions of higher learning within the jurisdiction of the Shreveport-Bossier Board of REALTORS®. The Board of Directors of the CID shall initiate invitations for honorary membership which, if approved, shall allow for membership without payment of dues or assessments.
4. Affiliate membership: Affiliate membership in the CID shall be available to individuals who are not REALTOR® members of the Shreveport-Bossier Board of REALTORS® or firms, corporations, Limited Liability Corporations, or partnerships. Such Affiliates must be approved by the Board of Directors of the CID. Such Affiliates must be individuals whose skills, knowledge, experience and interest are consistent with the objects of the CID. Such Affiliates will not be afforded the privileges and rights of members of CID nor the Shreveport-Bossier Board of REALTORS®. There will be two levels of Affiliate membership: Individual and Corporate. The CID Board of Directors shall establish on an annual basis the annual dues to be assessed such Affiliate members for their networking participation in CID membership meetings and education events.

Section 2. Officers and members of the Board of Directors shall be members as described in Section 1 (A) above. Voting on the affairs of the CID shall likewise be limited to these members.

Section 3. The Board of Directors of the CID may from time to time establish specific qualifications for membership within the criteria herein established.

Section 4. Members of the Commercial-Investment Division shall uphold the rules and regulations of the CID, accept the decisions of its various officers, Board of Directors, and Committees, and abide by their rulings in connection with the business of the Commercial Investment Division.

Article IV

DUES

Section 1. The annual dues of this organization shall be as set by the Board of Directors of the CID. Annual dues shall be established by the Board of Directors after evaluating the budget.

Article V

OFFICERS

Section 1. The elective officers of the Commercial-Investment Division shall be a President, a President-Elect, and a Secretary-Treasurer. The officers shall be elected for a term of one year. No officer shall be paid any compensation for his services. No debt, other than the usual debt incurred in preparing for a meeting shall be incurred by any officer of the Commercial-Investment Division. The President-Elect must have served at the least one year on the Board of Directors.

Section 2. President: The President shall preside at all meetings of members of the CID and have general charge of the affairs and business of the organization, subject, however, to the control of the Board of Directors. The President shall be an ex-officio member of all committees and shall also act as chairman of the Board of Directors.

Section 3. President-Elect: The President-elect shall hold office for a term of one year or until a successor has been duly elected and installed. In the absence, refusal or inability of the President to act, the President-elect shall perform the duties of the President. If for any cause the President-elect shall not be able to act in the absence, refusal, or inability of the President to act, the Directors shall have the power to appoint one of their members as acting President, who shall serve until the President or President-elect shall be in a position to resume the duties of the office.

Section 4. Secretary-Treasurer: The Secretary-Treasurer shall hold office for one year, or until a successor is duly elected and installed. The Secretary-Treasurer shall assist the Executive Officer in keeping a record of all the meetings of the members, preserving all records of the Board of Directors, and in general, perform such other duties as are usually performed by such an officer. Additionally, the Secretary-Treasurer shall assist the Executive Officer in sending out notices of meetings of the Board of Directors and membership in a timely fashion with the expense of such mailings and postage paid by CID.

The Secretary-Treasurer shall assist the Executive Officer in endorsing for deposit all checks payable to the organization and shall deposit all checks received in the name of and to the credit of the Commercial-Investment Division in such depository as the Directors may from time to time select. The Secretary-Treasurer shall assist in rendering a statement of accounts at each regular meeting of the Board of Directors, and at other times as the Board of Directors may require. The Secretary-Treasurer shall assist in seeing to the timely disbursement of funds for authorized and approved CID expenses and include such accounting in the required statements. The Secretary-Treasurer shall also assist in being responsible for accepting reservations for CID membership meeting and education events; making appropriate commitments to secure the agreed upon meeting place, contract for food and refreshments as directed by the Board or President, and maintain the membership and sponsorship lists.

Section 5. Board of Directors: The President, President-Elect, Secretary-Treasurer, the immediate Past-President of the CID, and the President-Elect of the Shreveport-Bossier Board of Realtors, with full voting rights, shall automatically constitute five (5) members of the Board of Directors. There shall be up to a maximum of six (6) additional members-at-large, bringing the total to eleven (11) members of the Board of Directors. The members-at-large will serve three year terms. No more than two CID members from one firm may serve on the Board of Directors of the CID at the same time. The President-Elect of the Shreveport-Bossier Board of REALTORS® will be a member of the CID Board of Directors, but will be exempt from CID dues. In 2000,there will be four Director-at-Large positions to be filled and these will be elected as follows: one to serve a one-year term, one to serve a two-year term, and two to serve three-year terms. The Directors elected will be determined in the following manner: the nominees receiving the highest number of votes respectively will serve in the at-large slots in the highest tenure respectively. In case of a tie, the nominee to be elected will be determined by a coin toss.

Section 6. Nominations: The Nominating Committee shall be selected and appointed by the President, who can not be one of the nominees on the committee. This committee shall be ready to receive and/or make nominations at least sixty (60) days prior to the annual meeting. Nominations from the membership shall be closed 30 days preceding the annual meeting. The report of the Nominating Committee shall be transmitted to the membership by the Secretary-Treasurer with the notice of the annual meeting. There shall be at least one (1) nominee for each Officer and Director position and all qualified nominees will be listed on the slate of nominees. Cid members may begin voting at the Board Office beginning 14 days prior to the annual meeting and will end at 5 PM the day before the election. The election of the Board of Directors and officers shall take place at the annual meeting by vote of the eligible membership and voting will be by secret ballot.

Section 8. Vacancies: Vacancies among the officers and the Board of Directors shall be filled by an appointment approved by the Board of Directors of the CID until the next annual election.

Article VI

MEETINGS

Section 1. Annual Meeting: The annual meeting of the Commercial Investment Division shall be held on a date, place and hour designated by the Board of Directors.

Section 2. Meeting of the Directors: The Board of Directors shall designate a regular time and place of meeting. Absence from two (2) consecutive meetings, without an excuse deemed valid by the Board of Directors of the CID shall be construed as resignation, therefrom. Absence from three meetings in a calendar year shall be construed as resignation from the Board of Directors. In order to conduct business of CID a quorum of Directors must be present. A quorum shall consist of a majority of the Directors. Any such properly conducted business shall be binding on the membership.

Section 3. Notice of Meetings: Written notice shall be given to every member entitled to participate in the meeting at least seven (7) days preceding each meeting.

Section 4. Quorum: A quorum for the transaction of business shall consist of twenty percent (20%) of primary members in good standing.

Article VII

AMENDMENTS

Section 1. Amendments: These Bylaws may be amended by a majority vote of the general membership present at any meeting at which a quorum is present, provided such proposed amendment or amendments shall be plainly stated in the call of the meeting, subject to approval by a majority vote of the Board of Directors of the Shreveport-Bossier Board of REALTORS®.

Section 2. Notice: Notice by mail of all meetings at which such amendments are to be considered shall be given to every Director at least ten (10) days prior to time of meeting.

Article VIII

COMMERCIAL LISTING SERVICE

The Commercial Listing Service Committee shall oversee the operation of the Commercial Listing Service (CLS) system. The CID President-Elect will chair the CLS Committee.