AREN BYLAWS
The Aggie Real Estate Network (AREN) is a professional organization dedicated to strengthening connections among Aggies working across the real estate industry. Through events, programming, and the annual AREN conference, members build meaningful relationships while advancing their careers and supporting Texas A&M real estate programs.
Principle Office
101.
The principal office of the Corporation in the State of Texas shall be located at The Mays Business School at Texas A&M University. The Corporation may have such other offices, either in Texas or elsewhere, as the Board of Directors may determine. The Board of Directors may change the location of any office of the Corporation.
Registered Office and Registered Agent
102.
The Corporation shall comply with the requirements of the Act and maintain a registered office and a registered agent in Texas. The registered office may, but need not, be identical with the Corporation’s principal office in Texas. The Board of Directors may change the registered office and the registered agent as provided for in the Act.
201.
The Corporation shall have two classes of members. The membership classifications are defined as follows:
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Full members shall be those individuals professionally involved in the real estate industry who have paid the annual dues and are in good standing with the Corporation. These members shall be entitled to all privileges of membership including voting rights.
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Student members shall be those individuals currently enrolled in a scholastic degree program with emphasis on real estate. Student members in good standing shall be entitled to all privileges of membership, except voting and holding office. The only exception to the membership limitations is the voting privilege of the student representative to the Board.
Admission of Members and Renewal of Membership
202.
Natural persons may be admitted to membership in the Corporation by the membership committee designated by the Board of Directors to handle such matters. No applicant may be denied membership for reasons of religion, race or color. The membership committee may adopt and amend application procedures and qualifications for membership in the Corporation upon approval by the Board of Directors. All applicants shall be granted temporary membership upon receipt of the annual dues. All membership applicants shall be automatically elevated to full members at the Board of Directors meeting immediately following the receipt of the application, unless a majority of the Board of Directors votes to deny the application of a particular applicant. If an applicant’s membership is rejected by the Board of Directors, the applicant shall be informed by the secretary in writing and offered the opportunity to address the Board of Directors at their next scheduled meeting. The secretary shall also return the dues payment upon the rejection of the application. A member may renew membership by paying all required fees and dues of membership.
Membership Fees and Dues
203.
The Board of Directors may set and change the amount of an initiation fee, if any, and the annual dues payable to the Corporation by members of each class. Dues shall be payable in advance on the first day of each calendar year. At the discretion of the Membership Chairman, payment of student dues after September 1st, will constitute good standing in the Corporation for a period not to exceed sixteen (16) months.
Voting Rights
204.
Each full member in good standing shall be entitled to one vote on each matter submitted to a vote of the members. Student members will not be eligible to vote in general elections, constitutional amendments or at annual business meetings.
Resolution of Disputes
205.
In any dispute between members relating to the activities of the Corporation, all parties involved shall cooperate in good faith to resolve the dispute. If the parties cannot resolve the dispute between themselves, the Board of Directors may serve as mediator to help resolve the dispute.
Sanction, Suspension, or Termination of Members
206.
The Board of Directors may impose reasonable sanctions on a member, or suspend or expel a member from the Corporation, for good cause after a hearing. Good cause includes the default of an obligation to the Corporation to pay fees or dues for a period of 60 days following delivery of notice of default, or a material and serious violation of the Corporation’s articles of incorporation, bylaws, or rules, or of law. The Board of Directors may delegate powers to a regular or ad hoc committee to conduct a hearing, make recommendations to the Board of Directors, or take action on behalf of the Board of Directors. The Board of Directors, or a committee designated by the Board of Directors to handle a matter involving sanctioning, suspension, or expulsion, may not take any action against a member without giving the member adequate notice and an opportunity to be heard. To be deemed adequate, notice shall be in writing and delivered at least 15 days prior to the hearing. However, shorter notice may be deemed adequate if the Board of Directors, or a committee designated by the Board of Directors to handle a matter involving sanctioning, suspension, or expulsion, determines that the need for a timely hearing outweighs the prejudice caused to the member and if a statement of the need for a timely hearing is included in the notice. If mailed, the notice shall be sent by registered or certified mail, return receipt requested. The Board of Directors, or a committee designated by the Board of Directors to handle a matter involving sanctioning, suspension, or expulsion, may impose sanctions, suspend a member, or expel a member by vote of a majority of directors, or a committee designated by the Board of Directors to handle a matter involving sanctioning, suspension, or expulsion, who are present and voting.
Resignation
207.
Any member may resign from the Corporation by submitting a written resignation to the secretary. The resignation need not be accepted by the Corporation to be effective. A member’s resignation shall not relieve the member of any obligations to pay any dues, assessments, or other charges that had accrued and were unpaid prior to the effective date of the resignation.
Reinstatement
208.
A former member may submit a written request for reinstatement of membership. The membership committee designated by the Board of Directors to handle the matter, may reinstate membership on any reasonable terms that the committee deems appropriate.
Transfer of Membership
209.
Membership in the Corporation is not transferable or assignable. Membership terminates on the dissolution of the Corporation or the death of a member. Membership in the Corporation is not a property right that may be transferred after a member’s death.
Waiver of Interest in Corporation Property
210.
All real and personal property, including all improvements located on this property, acquired by the Corporation shall be owned by the Corporation. A member shall have no interest in specific property of the Corporation. Each member hereby expressly waives the right to require partition of all or part of the Corporation’s property.
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Annual Meeting
301.
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Each year the Board of Directors shall hold an annual meeting of the members. The date, time, and location of the annual meeting will be decided by the Board of Directors. At the annual meeting, the members shall elect directors and transact any other business that may come before the meeting. If, in any year, the election of directors is not held on the day designated for the annual business meeting, or at any adjournment of the annual meeting, the Board of Directors shall call a special meeting of the members as soon thereafter as possible to conduct the election.
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