The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-01-17
CONSTITUTION OF THE TEXAS REAL rs
TATE ASSOCIATION.
ARTICLE I-MFNHFRS.

SECTION /. NO person or Iifll Shall ne admit
ted Il member of this association who is not an
agent for the sale of or d dealer i'll real estate
and no person or firm shall hold or own more
than one membership. AM each membership
shall entitle the owner of The same To one vote
only, either in person or by writ ten proxy, to
some member of the association.
Sec. 2. In towns orcontieS of not more than
5000 inhabitants there shall not be allowed
more than one member, except by the consent
of the member or members already located in
said town or county.
| berShip to consist of three members, 10 whom
shall be referred all new applications for MEM
berships, lnd all applications OF suspended
members fo- readmiSsiOn of 4 person who
has ceased to be a member of the association
through violation OF its constitution or by
laws shall be referred to the committee on
membership unless he has first obtained the
con, ent OF twO-thirds Of the members of the
board of directors. They shall detrrmine the
shall be conducted. Two-thirds of the commit
tee approving, the candidate shall be declared
elected or reelected to membership in the
association.
The chairman of the committee shall inform
the secretary of the admission or re-admissnn
of amy applicant and the secretary shall notify
each member of the association.
Sec. I. The price of membership in the as
ISOLATION shall be S GO each for the next ninty
days. after which it shall be $1,000 each. Pay
| mentS shall be made for same by each member
or firm executing his or their vote, payable TO
| the association without interest, in monthly
| inStallments of sums of s. each on 500 notes,
ana SlU edrn OIL slulD notes. payments 10 DC
| made on the first of each month. and in addi-
| ton to the above there shall be an initiation
| fee of not less than $40, to he paid by each
member firm at the time he or they become
Sec s. No sale or transfer of memberships
| shall be made except by the approval OF the
committee on memberships, ana not then until
| all dues and assessments have been paid. In
| the event of the death of any member. his
membership shall be sold by the said COMM =
| tee to the best advantage, and after paying all
| be due from the deceased member To the aSsO-
citation in connection with association business;
The remainder shall be paid over to the legal
| representatives of the deceased.
Sec. 6. The moneys Or funds accruing from
| the sale of memberships shall be Il permanent
| investment fund, and may be invested in real
estate. or real estate securities the directory
| may determine. And the directory shall have
| power To levy assessments against members 10
meet contingent expenses OF the association,
and all assessments and dues shall be Il lien on
| the membership until paid. And any member
| in arrears for dues or assessments for six
| months may be suSp nded or expelled by the
board of directors. If expelled the member
| ship shall eScheat to the state.
ARTICLE lI-OFFICERs.
Section /. The officers CT this association
shall consist of Il president Il first second and
third vice -DreSident. a secretary and treasurer
and such other officers and agents as the ;lSSO-
! citation may require. The president and vice
president shall be members of the board OF
directors. Should Il vacancy occur in any Office
Sec. .. The treasurer and such other officers
and agents as handle the funds or property
bclOn iEg TO the association shall give APPROX
ed bond as the directory may require.
ARTICLE III.
| Section !. The annual meetings OF this asSo-
citation shall he held at the Office OF the aSSOcia
ton, in the city and county of Dallas, state Ol
| Texas, on tie first Tuesday Of December OF
each Year, until otherwise ordered by the aSSO
ciatiOI. At said meetings the officers and
directors shall be elected by the members, WhC
| shall hold Office one year or until their success
Sol s are installed.
See. , Called meetings may be held at sllc
time and place as shall be fixed by the bylaws
ARTICLE ".
Section 1. There shall be an arbitration com
mittee to consist of three members, whose
duty it shall be to investigate all claims and
matters of difference between member;
of the association, arising from trans
actions in real estate or property
provided, however, that said committee
on application If either one of the parties al
their discretion, to hive power to dismiss the
case and refer the parties TO their legal rem
dy. They shall also adiudicate such claims
arising from differences, as aforesaid, as may
be preferred against any member by person:
who are not members of the association, wlicT
such persons who are not members shall agree
to abide by the rules and regulations OF the
said association in such cases provided. Thu
decisions OF said committee shall be final il
all cases, except those involving suns of $j0t
or more. when either par may app al within
ten dry Ia the board OF directors for final adhI
di at'un.
So. > There shall be a committee of tire.
mtlnI, rs on law, TO which shall be referred al
questions of law affecting the interests of th'
association.
Sec. 3. There shall be a committee of thre,
members on printing, to which shall he relcret
for printing all blacks or papers for the usc o
the ass ISOLATION.
ARTICLE v
This constitution may be altered or amended