By-Laws


By-Laws & Rules and Regulations of the Young Professionals Network a Division of the Long Island Board of REALTORS®

PREAMBLE

The By-laws of the Long Island Board of REALTORS® are incorporated herein by reference. In the event of a conflict between these By-Laws & Rules and Regulations and the By-Laws of the Long Island Board of REALTORS®, Inc., the By-Laws of the Long Island Board of REALTORS® shall control.

ARTICLE I – NAME

The name of this organization shall be the Young Professionals Network a Division of the Long Island Board of REALTORS®(the “Division”)

ARTICLE II – OBJECT

The object of this Division shall be:

  1. To unite those engaged in the real estate profession in the communities served by the Young Professionals Network for the purpose of exerting a beneficial influence upon matters affecting the profession and related interests.
  2. To provide a unified medium for property owners and those engaged in the real estate profession whereby their collective and individual interests may be safeguarded and advanced.
  3. To promote and maintain the high standards of conduct in the transaction of real estate as expressed in the Code of Ethics of the National Association of REALTORS®.
  4. To safeguard the interests of homeownership, and the ownership of all types of real property.
  5. To advance the enlightened development and economic growth of Young Professionals Network while preserving its unique character.

ARTICLE III – MEMBERSHIP

SECTION 1. CLASSIFICATIONS:

The classifications of membership in the Division shall be the same as those of membership in the Long Island Board of REALTORS® and membership within the Division shall be open to anyone holding membership in the Long Island Board of REALTORS®.

SECTION 2. JURISDICTION

This Division shall be as established by the Board of Directors of the Long Island Board of REALTORS®, Inc.

SECTION 3. PRIVILEGES:

Only REALTOR® members in good standing in the Long Island Board of REALTORS® shall have the right to vote or hold elective office provided they also meet the criteria set forth in Article VII of the Bylaws.

Only REALTORS® can be elected President or President Elect and may hold all other elective offices.

SECTION 4. SERVICE:

All members shall be entitled to receive notification of Division meetings and functions. 

ARTICLE IV – MEMBERSHIP QUALIFICATIONS

Membership in the Division shall be only after acceptance and while the individual remains a member in good standing with the Long Island Board of REALTORS®, Inc.

ARTICLE V – FINANCES

SECTION 1.

The Division by consent of its members may establish any voluntary method of financing Division activities, subject however to prior written approval of the Long Island Board of REALTORS® President and Chief Executive Officer. The President and CEO will review the proposal with Counsel and/or outside Accountant, if advisable.

SECTION 2.

No Division undertaking shall obligate the Division to any expenditure exceeding 50% of the current Division assets without prior review and approval by the LIBOR President and Chief Executive Officer.

SECTION 3.

The Division must establish a system requiring two Division Officers’ signatures on all accounts. Any expenditure exceeding $500.00 will require both signatures on the check.

SECTION 4.

… taken from LIBOR By-Laws: Article XIX – DIVISIONS – Section 2. PURPOSE:

“All policy and activity of the Division before implementation shall be subject to review and approval of the Board of Directors of LIBOR.  In no event shall the Division take action which is contrary to the policy of LIBOR as established by the Board of Directors or by the Membership of LIBOR.”

ARTICLE VI – OFFICERS & DIRECTORS

SECTION 1.

The Officers of the Division shall consist of an Immediate Past President, President, President Elect, who shall succeed the President at the end of the President’s term, Secretary and a Treasurer.  The Immediate Past President will serve as an Officer until succeeded by the President at the end of the President’s term.

SECTION 2.

The term of President and President-Elect shall be no more than two (2) one (1) year terms consecutively. If under special circumstances a third year is needed it must be by a special election meeting of the general membership of the Division with a 2/3’s majority vote.  The terms of Secretary, Treasurer and At-Large Directors shall be one (1) year terms. 

SECTION 3.

It shall be the duties of the Officers to administer the Division business subject to approval of the Board of Directors of the Division and informing the Division membership of these actions.

SECTION 4.

There shall be a Board of Directors of the Division consisting of the five (5) Officers and twelve (12) additional At-Large Directors elected as set forth herein.

SECTION 5.

All Past Presidents of the Division who are members in good standing of LIBOR, other than the Immediate Past President, may attend meetings of the Division Board of Directors to serve in a non-voting advisory role.

SECTION 6.

The Board of Directors shall meet at the call of the President or three (3) other Officers and/or At-Large Directors for the transaction of business.

SECTION 7.

Any Director or Officer may be removed for cause by the affirmative vote of the Members or the Board of Directors.  For purposes of these Bylaws, “for cause” shall mean: (a) willful failure of an Officer or Director to perform his or her duties; (b) an Officer or Director engaging in any act of fraud, embezzlement, or other theft, (c) an Officer or Director being convicted of a felony (or state law equivalent) or plea by such officer or director of guilty or nolo contendere to a felony (or state law equivalent), (d) a material violation by an Officer or Director of any written LIBOR policy, LIBOR’s Bylaws or these Bylaws; (e) misconduct or gross neglect by an Officer or Director that causes harm to LIBOR; (f) conduct by an Officer or Director that brings or is reasonably likely to bring LIBOR negative publicity or is injurious or prejudicial to LIBOR’s reputation, financial condition, business relationships or interests; (g) habitual abuse of drugs or alcohol by an officer or director; (h) failure to perform stated duties to LIBOR; or (i) breach of fiduciary duty to LIBOR.

In addition, any Officer or Director who has been absent from two (2) regularly scheduled meetings of the Board of Directors, other than a LIBOR, NAR and/or NYSAR Director or Officer who has meeting conflicts by virtue of those positions, will be automatically removed from office unless said absence(s) have been excused by the Board of Directors. A Director seeking to have any absence(s) excused by the Board of Directors must provide the President written notice of such request in advance of the next regularly scheduled Board of Directors meeting. The position of a Director or Officer removed due to absences will be declared vacant and filled in accordance with Article 8 Section 3.

Absences by Directors and Officers from special meetings or emergency meetings will not count toward the calculation of the number of absences referred to in this Section.

Any action taken under this Article VI Section 6 (except for removal due to absenteeism) by the Board of Directors or Members must be by an affirmative majority vote.  Such action shall be taken by way of motion at such meeting, and the Director or Officer shall be afforded an opportunity to speak in opposition to the motion.  Any vote by the Board of Directors for the removal of a Director or Officer for cause must have a quorum of not less than a majority present at the meeting of directors at which such action is taken.

ARTICLE VII – OFFICER AND AT-LARGE DIRECTOR CRITERIA

SECTION 1.

Applications for Division Officer and At-Large Director positions shall be posted on the Division’s official website (https://ypn.lirealtor.com/) no later than July 1st and applications shall remain open for at least 45 days thereafter.

Applicants for Officer and At-Large Director positions must meet the following criteria to appear on the ballot and hold office: 

SECTION 2.

  1. To serve as an Officer or At-Large Director of the Division, an applicant must be a LIBOR member in good standing and a member of the YPN Division.  
  2. To serve as President Elect, an applicant must have served at least one (1) year as Officer of the Division and at least one (1) year as an At-Large Director of the Division. 
  3. To serve as Treasurer or Secretary, an applicant must have served at least one (1) year as an At-Large Director or Officer of the Division. 

SECTION 3.

The President shall appoint a Credential Review Committee with the approval of the Board of Directors not later than the August 15th each year, consisting of the immediate Past President as chairperson, 2 members from the Division Board of Directors and 2 members at large. Any candidate who is seeking election as a YPN Officer or At-Large Director shall not be eligible to serve on the Credential Review Committee.

SECTION 4.

The Credential Review Committee shall review applications for Division Officer and Director and report the names of the applicants who meet the criteria for the positions they have applied for.  The report of the Credential Review Committee shall be emailed to each member of the Division at least 30 days prior to the Board of Directors’ Officer Election Meeting.

ARTICLE VIII – ELECTION OF OFFICERS & AT-LARGE DIRECTORS

SECTION 1. ELECTION OF OFFICERS

  1. The Officers shall be elected by the YPN Board of Directors.  For the purpose of the Board of Directors’ Officer Election Meeting, which shall be for the election of President Elect, Secretary and Treasurer, the quorum shall be two-thirds of the current sitting Board of Directors.
  2. Individuals may only apply for one Officer position in an election cycle.
  3. Officer candidates shall be noticed to the Board of Directors no later than one month prior to Officer Elections.
  4. The Board of Directors will hold candidate interviews and conduct the Officer election no less than 30 days prior to the Annual Meeting of the Division.
  5. The election shall be by plurality vote by ballot and all votes shall be cast in person. There shall be no proxy voting or absentee voting of the election for Officers.  The ballot shall contain the names of all qualified candidates and the offices for which they are running.  No write-in candidates shall be eligible for election.
  6. Candidates not elected for an Officer position may be eligible to run for an At-Large Director position if qualified and noted on original application.

SECTION 2. ELECTION OF AT-LARGE DIRECTORS

  1. At-Large Director candidates will be noticed to the YPN Membership at least one month prior to the date of the Annual Meeting.  At the Annual meeting of the Division, which shall be held no later than the end of November,  the election of the At- Large Directors for the following year shall take place.
  2. In the event of a contested race for At-Large Director, the voting shall be by closed ballot and the President shall appoint three Active members who shall make a tabulation of the ballots and report the results.  Only candidates for At-Large Director appearing on the Notice of At-Large Director candidates shall be eligible for election.  No nominations from the floor or write-in candidates shall be accepted. 
  3. A quorum for the election of At-Large Directors shall consist of 5% or 50 members whichever is less of the active members of the Division.

SECTION 3. VACANCY

In the event of a vacancy in any office, such a vacancy shall be filled by a vote of the Division Board of Directors.

ARTICLE IX – TERMINATION OF MEMBERSHIP

Membership in the Division shall cease upon termination of membership, by individual or institution, as a member of the Long Island Board of REALTORS®.

ARTICLE X – COMMITTEES

SECTION 1.

The President shall appoint, subject to the approval of Division Board of Directors, such Committees as he shall deem necessary to conduct the business of the Division.

ARTICLE XI – MEETINGS AND QUORUM

SECTION 1.

The Annual Meeting of the Division for the election of At-Large Directors shall be held no later than the end of November at such time and place as specified by the Division President and Board of Directors.

SECTION 2.

The Division may meet monthly, but is expected to meet no less than 4 times a year for the purpose of conducting Division business and to carry out the objects of the Division as stated in Article II of these By-laws. Such meetings of the Division shall be called at the time and place as the President and/or Officers of the Division shall direct provided notice to be sent to each member of the Division by email at least five days prior to the meeting. No meetings shall be held where there is a conflict with major LIBOR activities without approval of the LIBOR Executive Committee.

SECTION 3.

The quorum to conduct business at any Division meeting will consist of 5% of the membership or 50 members, whichever is less, of the active members of the Division.

SECTION 4.

The quorum to conduct business at any Division Board of Directors meeting shall consist of eight (8) Directors, three (3) of whom must be Officers. 

ARTICLE XII – FISCAL AND ELECTIVE YEARS

The fiscal and elective year of the Division shall conform with that of the Long Island Board of REALTORS®, Inc.

ARTICLE XIII – AMENDMENTS

SECTION 1.

These By-laws may be amended by the membership of the Division by a majority of the members present at a quorum meeting called for the purpose, provided that 15 days notice shall be given to members of the Division with the intention to amend, together with the substance of proposed amendments. Any such amendment shall not become effective until approved by the Board of Directors of the Long Island Board of REALTORS®, Inc.

ARTICLE XIV – NO DISCUSSION OF COMMISSION RATES

THERE SHALL BE NO DISCUSSION OF COMMISSION RATES OR SERVICE FEES AT DIVISION MEETINGS OR EVENTS.  THE RATE OR AMOUNT OF COMMISSION CHARGED FOR THE SALE, LEASE, APPRAISAL OR MANAGEMENT OF REAL ESTATE SHALL BE NEGOTIATED BETWEEN EACH MEMBER OF LIBOR AND HIS/HER CLIENT.

Revised: January 2022

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