The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-01-21
FOR THE STATE EXCHANGE.
The Constitution and Bylaws
Prepared
Ny tho Committee Appointed to do the
Work, and to be Reported to the Con-
vention Which Assemblies To-Day-An
Organization TO Embrace All the Local
Exchanges In Virginia.


report to the Roanoke meeting, which
convcnes to-day. The committee met
at Lynchburg in December and prepared
the following
Observation-Disclosures I.
Section l. Title-This association
shall be known as tho "Roal Estate Ex-
change of Virginia.
Sec. 2. Objects-Its objects aro
l. That a systematic and combined
effort be made to advance tho interests
of the real estate business in Virginia
by properly and extensively advertising
the resources of the State.
2. To accomplish for tho State at
largo same splendid results that have
accrued to some of our cities through
the effects Of the local exchange.
3. To exercise such just and united
influences over our legislature as will
secure equitable laws for our protection
and advancement.
4. To bring together the brain and
energy of our calling. so that from their
deliberations and general exchange of
views, new ideas and plans may be
evolved.
S. To maintain principles of honesty
and fair dealings in tho operations Of
licensed real estate agents and auction
GERS, and to crush out all efforts of
wrongdocrs in Misrepresentation or
otherwise.
&c. To acc 5mplish BY joint effort
what has hereto been impossible undcr
our old methods.
7. TO urge the organization of local
real estate exchanges in every city and
town of the commonwealth not now so
organized.
s. To bring together tho real estate
men OF Virginia in closer business and
social relations.
ARTICLE II-MEMBERS.
Section /. Any regularly licensed real
estate, rental agent or auctioner doing
business in the State may become a
member of the Real Estate Exchange Of
Virginia, provided he is q member of
an exchange where such exists.
Sec. =. Firms, as such, shall DO eligi-
bic to membership, but shall DO entitled
to one vote only. In all other respects
tho several members OF firm shall havo
all the rights and privileges of member
ship.
Sec. 3. Members after their election
and before they can be entitled to the
privileges of membership, shall agree,
in writing, to support the constitution
and bylaws; and abide by the rules a nd
regulations of this exchange, and sh all
pay to tho treasurer such foes and dues
as are hereinafter provided.
Sec. f. Fees-An initiation fec Of
shall be paid to the treasurer by every
member Immediately upon receiving
notice of his election. but until said fee
is paid his name shall not be enrolled
as member OF this exchange.
Sec. 5. Assessment = Each member
shall pay into the treasury of this ex-
change the sum OF s. per annum
half yearly, in advance, on the first day
of. ........, and no member shall have
the right to vote at any election who has
not paid his dues for the current six
mouths, together with all charges and
fines for which he may have become
liable.
Sec. 6. Delinquency : Any member
failing to pay his dues for sixty days
shall be notified in writing by tho
treasurer, after which, if still delin-
quent, he may be expelled by majority
vote of the entire board of directors at
any stated or called meeting.
Sec. z. Re-insta tement-Any mem
ber having been expelled for any
cause, shall be eligible for membership
only in manner prescribed for new
members, but suspended member may
be re-instated by majority vote of tho
entire board of directors at any meeting
of the board.
Sec. 8. Forfeiture = Any member
FORGETTING his membership by expulsion
or otherwise, shall thereby forfeit all
claims ty any interest in the property
of the exchange.
Sec. 9. Office Location-Every mem
Der of this exchange must have an
Office in tho State for the transaction of
d regular legitimate real estate bust
ness, the location OF which shall be
duly registered on its books.
Sec. 10. Headquarters-The head
quarters of this exchange shall be
located in the city of Richmond.
ARTICLE III.
Sec. 1. Meetings-The annual meet
ing of the exchange shall be held on the
............... Special meetings of tho
exchange shall be called by the prosi-
dent, when so ordered Gy tho board, or
upon the written request of any
three exchange members of the ex-
change, due notice of which shall be
given by the secretary to all members
of the exchange.
Sec. 2. Quorum-A majority of the
members of the exchange shall consti-
tute q quorum for tho transaction of
business.
ARTICLE PROCUREMENT AND EIEC-
TONS.
Seo /. Election of Officers-The gov
eminent of the exchange shall be vested
in board of ten directors, who, after
the first cleo ton, shall be elected annu-
ally, on the. 1880. They shall,
at their first meeting, elect from their
own members a president, vice-pre
dent, secretary and treasurer, whose
duties shall be as hereinafter prescribed,
and who shall continue in Office until
their successors shall have been duly
elected.
Sec. 9. Election of Directors-Tha