Rules &Regulations
1. NAME OF THE ASSOCIATION – “ Chennai Real Estate Agents Association “
2. DATE OF REGISTRATION – 3 rd April 1999.
3. JURISDICTION OF THE ASSOCIATION – Madras Central.
4. OFFICE ADDRESS & ASSOCIATION ADDRESS - GB-2, Landmark, No: 17, Sait Colony First Street, Egmore, Chennai - 600 008.
5. OFFICE HOURS – (10 A.M. TO 5 P.M.)
6. NAME OF THE SOCIETY – The Society which is registered under the provisions of the Tamil Nadu Societies Registration Act 1975 shall henceforth be known as:-
“CHENNAI REAL ESTATE AGENTS ASSOCIATION”
7. The Registered Office of the society shall be at GB-2, Landmark, No: 17, Sait Colony First Street, Egmore, Chennai - 600 008.
8. The object of the Society / Association which shall henceforth be referred to as "The Society" or "Association" are
a. To regulate the trade of Real Estate Agents in Chennai City and in peripheral areas of Chennai City and in such places where the Association may feel it necessary to have its operation.
b. To attend to the welfare of the Association and its Members and to make representations whenever necessary to government bodies and to individuals in regard to the difficulties that the members of the Association may have and to have their grievances redressed.
c. To regulate the trade of Real Estate Agents and to introduce norms and principles of business among themselves and with those who may interact with the members of the Society.
d. To provide a centralized information center for the Association members and to own an office for this purpose and to provide modern infrastructure and to create facilities for the members to have their business transacted.
e. To provide necessary business report to the clients of the members.
f. To resolve any dispute among the members of the Society and to resolve any dispute that the member or members may have outside by arbitration procedure.
9.MEMBERSHIP
Any person who is an individual or a body corporate or a firm or an association of persons dealing in the trade of real estate having his / their office within the City of Chennai / Chengleput District and Thiruvallur District, such applicant being assessed for Income Tax and Professing real estate agency as their full time business alone can be the member of the Association.
An applicant who seeks to become a member of the Association shall apply on the prescribed form of the Association together with an Admission Fee of Rs.1,000/- (Rupees One Thousand Only). Thereon the Admission Committee in its own sole discretion shall screen the applicant and advice the Association to accept the membership.
If the applicant is admitted, he shall pay Annual Subscription of Rs.500/- (Rupees Five Hundred Only), such Subscription payable immediately on the Applicant becoming a member and such subscription payable within a month of beginning of each accounting year.
An applicant whose application is rejected for membership will be refunded of the Admission Fee that he paid, immediately on rejection.
In case of an individual member he shall function as a member and in case of a firm or a company or a body of persons becoming member of the association, such organization to represent the organization as member.
10. EXECUTIVE COMMITTEE The day to day administration of the Association shall vest with an executive committee which shall consists of the elected members. The members for the committee shall be elected in an election which shall be conducted immediately after the annual general body meeting.
The Association shall have the following officials in the executive committee.
President, Vice President, Secretary, Joint Secretary, Treasurer, 5 Committee Members, Immediate Past President.
Whenever there is no immediate past president available or when the immediate past president declines to take up membership in the executive committee, one more committee member will be elected in the General Body meeting held for electing committee members.
No person who had held an office in the committee for any post for a continuous period of two years shall become eligible to hold the same post subsequently. However after a gap of two years he shall become eligible to hold the post that he had held already.
11. The Executive Committee shall function for one year from date of the election and till date of the next annual general body meeting and election and thereafter they shall handover the office to the newly elected committee.
12. The Executive Committee may form necessary sub committees such as membership admission committee, representation executive committee, rules committee and such other committees and the executive committee members and any other member of the association can be members of such committee. In any case the committee shall not consist more than five members. The committee shall submit its report and will co-ordinate with the executive committee.
13.a. The association shall have a bank account in the name of the Association and it shall be operated by the President, Secretary and the Treasurer, any two of them jointly executing the cheques and continuing the operation of the bank account.
b. The executive committee shall be in charge of the fund administration of the association and regular accounts, account books and other records as may be maintained procedurally in other associations of similar nature shall be maintained by the executive committee.
c. The Secretary of the Executive committee shall be in charge of all the records and documents of the association and he shall also be in charge of the account books and bank records and cheque books.
d. Any member of the association shall have a right of access to all the records at any time during the office hours of the association. On payment of a prescribed fee, the member shall be granted certified copies of the records that the member seeks to obtain from the association.
e. The Secretary shall have the office in the place where he carries on business and being in charge of the day to day administration he is entitled to incur daily expenses towards the maintenance of the association and shall keep such records of such expenses and shall place an account of expenses incurred by him every month in the committee meeting and the committee after scrutiny shall accept the accounts.
f. The executive committee shall meet once in a month, in a place announced earlier to all the committee members. All executive committee members (unless otherwise such person, who is absent, takes prior permission from the president) shall attend the meeting.
g. The Secretary shall record the transaction of the executive committee in a minutes book which shall be permanent record of the association.
h. Any member of the Executive Committee who is absent continuously for three executive committee meetings without any reasonable excuse shall be removed from the committee in the next ensuing executive committee meeting by a resolution passed by the majority of committee members attending such meeting.
i. Any vacancy arising in the executive committee during a financial year shall be filled up by the majority of the executive committee members co-opting any member to such post and such co-opted member shall hold the office till the next general body meeting and election.
14. The Office hours of the Association shall be between 10:00 am and 5:00 pm and the office will function on all days except on Sundays and public holidays and holidays that are announced by the Government.
15. The accounting year of the association will be from 1st April of the commencing year and shall be end on 31st March of the succeeding year.
16.GENERAL BODY MEETING
a.An annual general body meeting shall be conducted within 60 days of the accounting year ending that is within 30th April of every succeeding year.
(i) As soon as the accounting year shall completed the accounts of association shall be audited by a Chartered Accountant appointed for this purpose and it shall be signed by the President, Secretary and Treasurer for its correctness and a copy of the accounts, statement and annual statement reflecting the assets, credits and liabilities of the association shall be forwarded to every member together with a notice for general body meeting setting out the date, time and venue of such meeting.
(ii)The general body meeting will he held after 21 days of t he dispatch of the notice of such meeting with the contents as per Clause 10 (a) (i).
(iii) A copy of the notice shall be exhibited on the notice board of the office of the association and the notice of the general body meeting shall be dispatched to all members by ordinary post to the address furnished by them to the association. No member shall complain about the non receipt of the notice if the notice is dispatched well in time and proof of it is entered in the books of the association.
(iv) Any member who raises a subject to be discussed in the annual general body meeting shall send such subject in writing within a month before the annual general body meeting and such subject will be put in the agenda for discussion in the general body dealt with.
(v) The accounts as submitted by the committee to all members shall be passed after discussion by the general members in the annual general body meeting.
(vi) After the passing of the accounts an election will be held in which members to the executive committee shall be elected either by show of hands or by a secret ballot.
(vii) The Secretary shall record the proceeding of the general body meeting in the minute’s book of the association.
17. Any member seeking to contest in the election shall file his nomination proposed by one member and seconded by another member in the prescribed form within a week of the election to the committee is announced. The list of eligible members will be exhibited on the notice board of the association. A member seeking to contest in the election can withdraw within a week of the announcement of his candidature. The final list of the member contesting will be exhibited thereafter and at least five days before the date of general body meeting and election.
18. A member who is in arrears of subscription for the current year and who is in arrears of any money due to the association shall not be eligible to contestant for the committee and he shall not also be eligible to vote in the election. On payment of the arrears due by him he shall become eligible to contest or vote.
19. Any member who does not pay the annual subscription continuously for a period of two years shall be removed from the association after a notice sent by ordinary post to such member and after the name is recorded in the annual general body meeting.
20. SPECIAL GENERAL BODY MEETING 1/3rd of the members can in writing make a representation to the president to call for a special general body meeting to discuss any important matter. On receipt of such representation the president and the secretary shall convene a special general body meeting as soon as possible and the matter raised by the representation shall be discussed in the special general body meeting and a decision by majority will be arrived at.
21. The quorum for the annual and special general body meeting shall be 1/3rd of the total membership strength and the quorum for the executive committee meeting shall be the presence of seven executive committee members.
22. The executive committee shall take steps to comply with all provisions of the Tamil Nadu Societies Registration Act.
23. Any clause of this memorandum shall be amended in a general body meeting after due notice to the members and as per the majority view.
24. Any member of the Association who has been convicted previously or who is convicted for an offense involving moral turpitude shall become disqualified to continue as a member of the association. The executive committee receiving such information about the member suffering such disqualification shall receive specific evidence in this regard and shall place the same before a specially convened general body meeting wherein the member shall be removed per majority of vote.
25. Any dispute arising interest between members of the association may be referred by any one of the members concerned in the dispute to an arbitration constituted by the arbitration committee and parties to the dispute shall be bound by a decision arrived at and communicated to such parties involved in the dispute. The arbitration committee shall be constituted by three members of association who shall be selected from a panel of seven members. While each party to the dispute can nominate one person to function as arbitrator shall be appointed by the President.
26. Any amendment in the Article Association and Memorandum shall be made only in a special or general body meeting, after such amendment is tabled to all members and such amendment shall be carried out only if it is passed by simple majority of voting.
27. A Register of members shall be maintained by the Association together with all other forms as is required under the Rules of the Tamil Nadu Societies Registration Act, 1945.
28. The Secretary shall be the person who is empowered and authorized to sue and be sued on behalf of the Association.
29. Any money available in surplus for the purpose of investment shall be invested in a special account opened by the society for that purpose in any nationalized bank or in any security of the undertakings of the Government of India.
30. The Executive Committee shall be responsible to carry out all statutory obligations connected with the administrations of the society and in addition the executive committee will from time to time decide about the number of staff to be employed and the conditions of service of such staff and executive committee will be in charge of the administration and control of the staff members of the association.
31. Any dispute arising interest between members of the association may be referred by any one of the members concerned in the dispute to an arbitration constituted by the arbitration committee and parties to the dispute shall be bound by a decision arrived at and communicated to such parties involved in the dispute. The arbitration committee shall be constituted by three members of association who shall be selected from a panel of seven members. While each party to the dispute can nominate one person to function as arbitrator shall be appointed by the President.
IN WITNESS WHEREOF, WE, THE MEMBERS OF CHENNAI REAL ESTATE AGENTS ASSOCIATION ON THIS ___________ DAY OF 1999, HAVE RESOLVED AND SIGNED THIS MEMORANDUM OF ARTICLES OF ASSOCIATION.