The CALIFORNIA ASSOCIATION OF REALTORS® Board of Directors will meet for its 528th session on Friday, June 11 and Saturday, June 12 at the Sacramento Community Convention Center. Click on the links below for more information of interest to Directors.
Proposed Bylaws Amendments -- click here Information regarding proposed amendments to the C.A.R. Bylaws There are three substantive amendments for the Directors’ consideration: (1) the first amendment clarifies that an Honorary-Member-for-Life, upon being elected to that status, is exempt from paying both State Association dues and assessments for the rest of their life; (2) the second amendment clarifies the name of the California Distinguished REALTOR® Awards Selection Committee and also clarifies that the current Treasurer is not eligible for the California Distinguished REALTOR® Award; and (3) the last amendment is made to conform the C.A.R. Bylaws regarding dues with the dues formula set forth in the National Association Bylaws.
CALMLS and MRMLS Joint Initiative Proposed -- click here (Posted June 2) As previously announced, calREDD (CALMLS), the statewide MLS initiative, is in active negotiations with MRMLS to join the two efforts. While negotiations are ongoing, the governance structure has been tentatively agreed to by both parties and is subject to approval by the C.A.R. Board of Directors. The proposed structural changes are similar to the existing CALMLS structure in place in many respects. The main difference is that the Associations of REALTORS® will become members of the organization, instead of C.A.R. as its sole member, and with that membership, six slots on the board of directors will be reserved for persons the Associations submit and are elected by the Associations’ representatives. The balance of the structure is similar to the current structure with representation of large, medium and small broker owners and salespersons. The CALMLS delegate structure - of state directors from participating Associations - will remain intact as the electing body with a combination of proportional and entity votes. C.A.R. will still have to approve key matters such as any dissolution or merger of the New CALMLS, sale or transfer of substantially or all corporate assets, change in the board composition, qualifications or terms of office or selection and the purpose of the corporation. The side-by-side comparison of the before and after structure is available by clicking on the link above.
As part of this proposal to assist in accelerating the statewide MLS, the directors will be asked to approve the basic terms of the transaction but also be asked to approve amendments to the CALMLS bylaws reflecting the transaction which will only become effective once the final agreement is signed and all due diligence completed. The bylaws will be in two steps: the changing of the current CALMLS bylaws to a holding company for tax purposes and amending the MRMLS bylaws to become the New CALMLS structure. The chart referenced above shows the difference between the current CALMLS and the entity that will become the New CALMLS. The holding company will be used to take advantage of the losses generated to offset against future revenue from income. Therefore, the bylaws changes will reflect distilling one structure down to a minimalist company for that purpose and will become effective only upon the final approval of the underlying transaction.
The financial and other business aspects of this joint effort are still being finalized and will be presented at the directors' meetings for your consideration and vote. We will provide more details as soon as possible.
CALMLS Merger Frequently Asked Questions (Posted June 4) A Frequently Asked Questions format regarding the calREDD® and Multi-Regional Multiple Listing Service, Inc. (MRMLS) Proposal for the Statewide MLS.
CALMLS Issues Briefing Paper (Posted June 7) This Issues Briefing Paper outlines the proposed agreement between CALMLS (doing business as “calREDD®”) and Multi-Regional Multiple Listing Service Inc. (“MRMLS”) to join their mutual efforts to operate as the statewide MLS together under one entity. It also addresses items of general interest regarding calREDD® and the statewide MLS effort.