EAAP: EAAP: Real Estate Agents Brokers in Pune Memorandum of Association

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EAAP Memorandum

Rules & Regulations

MEMBERSHIP
(a) The number of members of the Association is declared to be unlimited. (b) For the present there shall be only one class of members. However the Managing Committee if it considers desirable may propose to establish different class of membership which shall be considered by holding a General Body Meeting. (c) In addition, Association of Estate Agents outside Pune may be affiliated to the Association on payment of such fees and on such conditions as prescribed by the Managing Committee from time to time.

ELIGIBILITY AND ADMISSION OF MEMBERS
(a) Eligibility : Any company, partnership firm or individual firm carrying on mainly the business of a real estate agent shall be eligible as a member of the Association. (b) Admission : (i) Every application in a prescribed form duly filled shall be submitted by the Secretary to the Managing Committee at its next meeting. The Managing Committee shall have absolute power and discretion to accept or to reject an application without assigning any reason. (ii) The Secretary shall in writing convey the applicant of his admission or otherwise. (iii) A candidate duly proposed and seconded but not admitted shall not be eligible for admission again until after three calendar months from the date of his rejection. (c) Representation : In case of a firm or company, the member shall be entitled to appoint an accredited representative, who shall not be below the status of a partner, director or manager. Such a representative shall enjoy the same rights and privileges as if he were an individual member of the Association. (d) Representation by Nominees : (i) Members can only be enrolled in the name under which they carry on their business, and may be represented by any one of the persons nominated as their representatives in the application form. No member shall nominate more than two persons at a time. (ii) In the absence of the member each such nominee at a time shall be entitled to attend and exercise the rights and privileges of membership. The nomination made in the application may subsequently be altered from time to time by a notice of change in writing to the Secretary. The nomination will become effective after the Secretary has confirmed the acceptance of change in nomination in writing.

REGISTER OF MEMBERS
(a) A Register of members shall be maintained and kept by the Secretary of the Association. The Register shall have the following information entered in separate columns : (i) Business name. (ii) The address and telephone number given in the application. (iii) The date when the member was admitted. (iv) Name of the person entitled to represent. (v) The names of persons nominated. (b) Every member shall notify any changes in the above in writing to the Secretary. The alteration shall be immediately entered in the Register by the Secretary after approval of the Managing Committee.

RIGHTS AND PRIVILEGES OF MEMBERS
a) The rights and privileges of every member shall be personal and shall not be transferred by his own act, or by operation of law, except in the case of a limited company or partnership firm. The rights and privileges of the member in such cases may be enjoyed by a person duly appointed in writing by the firm. (b) A member may resign from the Association after giving one months notice in writing to the Secretary, and the resignation shall be effective from the date on which the Managing Committee accepts it. The Managing Committee may refuse to accept the resignation of a member on the ground of non-payment of arrears of subscription or any other sum which may be due from him to the Association. (c) A person shall cease to be a member of the Association on any of the following grounds : (i) Death in case of an individual and liquidation or dissolution in case of a company or firm. (ii) Resignation (iii) Declared guilty of criminal offence / involving moral turpitude offence. (iv) Ceasing to fulfil conditions of membership or incurring any disqualification under bye-law. (d) (i) A member may be suspended or expelled from the Association for any wilful breach of its rules by a resolution passed at a meeting of the Managing Committee by a two third majority after the member concerned has been given one month notice and an opportunity to defend himself.

RATES OF ADMISSION AND SUBSCRIPTION
(a) Every member shall pay an admission fee of Rs. 500/- along with the application and subscription of Rs. 300/- at the beginning of ever year respectively. These rates would be revised every year by the Managing Committee. (b) The yearly subscription is to be paid in advance on or before 30th Jan. every year. (c) The name of the member shall be struck off from the register if he is in arrears for more than 3 months including a month notice duly served on him. A member who is in arrears of dues shall not be entitled to vote. (d) (i) A firm shall not cease to be a member only by reason of change in the constitution of the firm occasioned by the admission, retirement or death of a partner provided the business of the firm is continued in the conventional name in which such a firm was admitted as a member. At the discretion of the Managing Committee any firm, company or corporation shall cease to be a member upon any change in its status, constitution and / or conventional or corporate name. (ii) Any member who shall act against the interests of the Association, or violates any of the Articles, bye-laws, rules of business, convention established by the association or whose conduct or action in the opinion of the Managing Committee is unbecoming and is prejudicial and detrimental to the association may after due enquires by the Managing Committee be either censured, suspended or expelled from the Association. (iii) No member shall be expelled from the Association except by a resolution of at least two third majority of the Managing Committee. (iv) A member whose conduct calls for any enquiry shall be given 30 days notice to show cause as to why action should not be taken against him. Every opportunity will be provided to him to defend himself in person. (v) A case of misconduct against the member shall be presented by a member of the Managing Committee or Sub-Committee if so appointed for investigation. The relative part of the proceeding of the meeting shall be recorded in the minutes. (vi) Any member censured, suspended or expelled shall be entitled within one month of receipt of notice of censure, suspension or expulsion to appeal to the Secretary of the Association in writing who shall at the earliest, call for a General Body Meeting of the Association to deal with such appeal. (vii) The Association shall upon such appeal have the power to cancel such censure, suspension or expulsion and to re-instate the member of a majority vote at such meeting provided that such a member shall not have the right or claim to any compensation or damages.

OFFICE BEARERS
There shall be the following office bearers of the Association : President Vice- President Treasurer Secretary The office bearers of the Association shall be honorary.

ELECTION OF MANAGING COMMITTEE
(a) The Managing Committee of the Association shall consist of not less than 9 members duly elected including the President, Vice-President, Secretary and Treasurer. (b) At each Annual General Meeting 9 members shall be elected out of the ordinary members, to constitute for the ensuing year the Managing Committee, which in turn will elect a President, a Vice-President, a Treasurer and a Secretary. The President of the Association shall be the Chairman of the Managing Committee. (c) The President, Vice-President, Secretary, Treasurer and the elected members of the Managing Committee shall retire after every two years but shall continue in office till its successors are appointed. Every retiring member of the Managing Committee shall be eligible for re-election. (d) Any member wanting to stand for election for the Managing Committee, shall notify the Secretary in writing in a prescribed form proposed by two other members as his Proposer and Seconder and should reach the office of the Association not less than seven clear days before the day of the Annual General Meeting. (e) The Managing Committee shall take office on election and shall continue to act until a new Managing Committee shall have been duly elected. (f) If the President, Vice-President, or any elected member of the Managing Committee shall remain absent from three consecutive meetings of the Managing Committee or from all meetings of the Managing Committee, for a continuous period of three calendar months, whichever is the longest period, without leave of absence from the Managing Committee, or ceases to be a member of the Association, he shall be required to vacate his office. (g) In case of any vacancy occurring in the Managing Committee by death, resignation or otherwise, the Managing Committee may elect a member from amongst those proposed by the members of the Managing Committee to fill the vacancy.

POWERS OF THE PRESIDENT
(a) The President shall preside at all meetings of the Managing Committee and at all General Meetings. He shall preside at the Annual General Meeting and address the members on such subjects as he may deem proper to bring to their notice, but such address shall not be taken to represent the views of the Association of the Managing Committee unless such representation is expressly indicated. (b) The President shall also, at any time when he shall deem proper, communicate to the Association or the Managing Committee such matters and shall make suggestions as may, in his opinion, tend to promote the prosperity and welfare and increase the usefulness of the Association and shall perform such other duties as may be incidental to the office of the President. (c) In the absence of the President, the Vice-President shall have the powers and shall perform the duties of the President. (d) The Managing Committee shall meet at least once every month for the transaction of business. (e) Subject as aforesaid, the Managing Committee shall meet at such times and at such places as the President or Secretary may from time to time determine and the business thereat shall be conducted in accordance with the bye-laws made from time to time by the Managing Committee. At least four days notice of the meeting shall be given to every member of the Managing Committee but an emergency meeting may be called at one days notice by the President or the Secretary, or by any member of the Managing Committee on their giving a written notice to the Secretary, who shall arrange to call such a meeting. (f) The President and in his absence the Vice-President shall be ex-officio Chairman of the Managing Committee. In case the Vice-President is also not present within fifteen minutes of the time notified, the Managing Committee shall elect their own Chairman for the meeting. The Chairman shall have an original, and in case of tie, a casting vote.

THE SECRETARY
The Secretary shall devote himself to the business and affairs of the Association, but he shall be entitled to carry on his business as a Real Estate Agent. He shall keep accurate Minutes of all meetings of the Association and of the Managing Committee. He shall take care of all the furniture and fixtures and of all papers, books and documents belonging to the Association. He shall give notice of all the meetings of the Association and / or of the Managing Committee. He shall duly notify the members of their election, collect all dues with the help of the Treasurer from the members of the Association. He shall prepare the Annual Report of the Association under the guidance of the Managing Committee and generally shall perform all such duties as are incidental to his office.

THE TREASURER
(a) The Treasurer shall keep all accounts of the funds of the Association and a record of the funds connected with or controlled by the Association. (b) Subject to the sanction of the Managing Committee all out of - pocket expenses, namely stationery, printing, postage, telegrams, conveyance and other charges shall be spent and paid by the Treasurer. The Association shall keep proper books of accounts. The books shall be closed on the 31st day of December every year or as fixed by the Managing Committee. (c) The books of accounts, cheque books, relevant papers and record shall be kept in the office of the Association or if there is no such office, in the office of the Treasurer, of the year. (d) Bank Accounts : The Association may by a resolution of the Managing Committee open an account or accounts in any bank or banks in the name of the Association and appoint persons one of whom shall necessarily be the Treasurer to sign cheques, documents, deeds and other papers on behalf of the Association.

FUNCTIONS OF THE MANAGING COMMITTEE
(a) The Managing Committee shall conduct the entire business of the Association and shall be entitled to exercise all the powers of the Association including the power to file and defend suits. (b) The Managing Committee shall have power to appoint sub-committees and to delegate to them or any one of their members all or any of the powers vested in the Managing Committee and from time to time to alter, repeal or frame, bye-laws not in consistent with these rules or any amendments thereof. The Managing Committee shall have power to nominate any member of the Association to represent the Association in a place where the Association may not have its branch and the member or members so appointed shall be responsible to the Managing Committee directly. (c) The Managing Committee shall engage such officers and servants as they may consider necessary and shall regulate their duties and fix their salaries or remunerations. (d) The management of the business and the funds of the Association shall be vested in the Managing Committee who, in addition to all the powers by these articles expressly conferred upon them, may exercise all such powers and do all such acts and things as may be exercised or done by the Association. The Managing Committee shall devote every possible care to the management of the affairs of the Association and contribute to the success and the prosperity of the common enterprise. (e) Decisions of the Managing Committee expressed by resolutions and all the bye-laws framed by the Managing Committee shall be binding on all members of the Association.

QUORUM
(a) Until otherwise determined by the Association or the Managing Committee five members of the Managing Committee personally present shall form a quorum. (b) If at any time the strength of the Managing Committee is reduced below the prerequisite quorum, the number of members for the time being on the Committee shall as soon as expedient call an Extra-Ordinary General Meeting of the Association to elect a new Managing Committee.

MINUTES
Minutes of the Managing Committee meeting, entered in the Minute Book, and signed by the Chairman of the next succeeding meeting at which the same are confirmed, shall be conclusive evidence of all resolutions of the Managing Committee.

ANNUAL GENERAL MEETING
(a) The Annual General Meeting of the Association shall be held once in a year within 15 months of the date of the last Annual General Meeting. The first Annual General Meeting of the Association shall be held within 18 months of the date of its formation. (b) Every Annual General Meeting shall be called for at a time during business hours on a day (not being a public holiday) as the Managing Committee from time to time determines. It shall be held either at the registered office of the Association or at such other place as the Managing Committee may select.

EXTRA - ORDINARY GENERAL MEETING
(a) All General meetings, other than the Annual General Meeting shall be called Extra-Ordinary General Meetings. The Managing Committee may, whenever it thinks fit, call an Extra-Ordinary General Meeting. (b) The Managing Committee shall on the requisition made in writing by at least ten percent of the active members of the Association at the date of the deposit of the requisition, forthwith proceed to call an Extra-Ordinary General Meeting of the Association. (c) The requisition shall set out the matters for the consideration of which the meeting is to be called.

NOTICE OF MEETING
(a) A General Body Meeting of the Association may be called by giving not less than twenty one day's notice in writing. (b) However a General Body Meeting may be called after giving at least twenty one days' prior notice if the consent is accorded thereto by all the members entitled to vote thereat. (c) Every notice of a meeting of the Association shall specify the place, the date and hour of the Meeting and shall contain a statement of the business to be transacted thereat. (d) No Annual General Body Meeting or Extra-Ordinary General Body Meeting shall be competent to enter upon, discuss or transact any business which has not been specifically mentioned in the notice or notices upon which it was convened

VOTING AT MEETINGS
(a) Unless otherwise provided in these rules, at any General Body Meeting or at any meeting of the Managing Committee, every question shall be decided in the first instance by a show of hands and each member present shall be entitled to one vote. The Chairman or any three members eligible to vote (two members in the case of meeting of Managing Committee) may demand a poll before or after any question is decided by a show of hands and such poll shall be taken forthwith if those present unanimously so decided but, in any other case, at such later times and at such place and in such manner as the Chairman may decide, provided that a poll demanded on the election of the Chairman of the meeting shall be taken forthwith. The result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. In the event of a poll, each member / or partnership firm, shall have one vote only. NO MEMBER SHALL BE ALLOWED TO VOTE BY PROXY. (b) The Chairman of the meeting shall have a casting vote in case of a tie either on a show of hands or on a poll. (c) Any one representative of such member whose name is previously registered with the Association shall be entitled to vote. No member shall be entitled to vote at any General Body Meeting unless all money presently payable by him to the Association have been paid.

INDEMNITY AND RESPONSIBILITY
(a) Every member of the Managing Committee or Sub-Committee, Officers and Employees of the Association shall be indemnified by the Association for acts done in the discharge of his duties. They shall be reimbursed all costs, and expenses (including conveyance expense) which any such member of the Managing Committee, Sub-Committee Officer or Employee of the Association may lawfully incur or becomes liable to by reason of any contract entered into or act or deed done by him in the discharge of his duties. (b) No member of the Managing Committee or Sub-Committee, Officer or Employee of the Association would be liable for the acts, receipts neglects or defaults of any other member of Managing Committee or Sub-Committee, Officer or Employee or for joining in any receipt or other act for conformity, or for any loss or expenses happening to the Association through insufficiency of title or property acquired by order of the Managing Committee or by any act whatsoever done for or on behalf of the Association. (c) The members of the Association are exonerated from any personal liability as to any commitment or commitments entered into by the Association.

ALTERATION OF RULES
(a) No rules of the Association shall be altered or repealed, and no new rule shall be added to the same, unless a proposal to alter, repeal or add to any such rule or rules is passed by the majority of not less than three-fourths of the members of the Association who vote personally at the General Body Meeting of the Association of which twenty one clear days' notice shall have to be given before the date of the meeting. The notice shall contain full particulars of the proposed alteration, repeals or additions. Such alterations. repairs or additions shall come into force on and from the date of the general meeting accepting the same or from such other date as the general meeting may decide. (b) The Association may be dissolved by a resolution passed with a three-fourth majority of the members present at a general meeting of the Association. At least twenty one clear days, notice shall be given to all members of the intention to move a resolution for dissolution. Such general body meetings shall also decide the manner in which the assets and funds of the Association shall be disposed of and the manner in which any liabilities of the Association, shall be met.

INTERPRETATION
The Managing Committee's interpretation of these rules and bye-laws framed there under shall be final and binding on all members. Objects (1) To establish cordial, healthy relations, and to foster brotherhood and esprit-de-corps amongst the members. (2) To provide a forum for making the public aware of the role and functions of estate agents. (3) To promote a good image of the profession of estate agent in the mind of the public by ensuring just and proper dealings. (4) To provide a place of meetings, where members could solve their difficulties encountered by exchange of views. (5) To provide facilities for imparting knowledge to the members relating to building industries. (6) To collect and disseminate statistical / technical and other information relating to building industry and kindred interests, and to diffuse among its members information in all matters affecting building industry, and all allied / kindred trades and to print, publish, issue and circulate such information and other literature as may appear conducive to any of the objects or calculated to advance these interests. (7) To arrange talks by experts to assist members on technical and taxation and legal matters. (8) To promote awareness as to the Rights and Duties of the Real Estate agents. (9) To affiliate and be affiliated to other organisations having similar objects. (10) To invest funds of the Association in such manner as the Association may in the best interests deem fit and proper. (11) To do all other such lawful acts or things as are incidental or conducive to the attainment of the above objects or any one of the above objects or any one of them and generally to take all such measures to promote the business of members.