Bylaws

BYLAWS

OF THE LAKE ERIE LANDLORD ASSOCIATION DBA

LAKE ERIE REAL ESTATE INVESTORS ASSOCIATION

ARTICLE I

NAME

The name of this association shall be The Lake Erie Landlord Association, Inc. dba Lake Erie Real Estate Investors Association (LEREIA). LEREIA is a non-profit corporation organized under the laws of the state of Ohio.

ARTICLE II

OBJECTIVE

The objective of this association shall be:

To improve the knowledge of the members by:
Opening lines of communication with various areas of the community that directly affects members.
Expand our lines of communication with governmental entities in an effort to improve long range right and opportunities of the members.
Create and make available to our members, applicable forms.
To promote and improve educational opportunities for Real Estate Investors, Housing Providers and Entrepreneurs. Encourage members and vendor success and to represent our members as positive, ethical contributors to the economic and social well-being of our community.

To improve the financial condition of the Housing provider by:
Creating a mutual network of area service people most favorable to working with housing providers.
Creating and maintaining a list of all properties for sale by member Housing providers.
Creating and maintaining a list of all people (member and non-member) interested in obtaining property (must be a member to get assistance from LEREIA).
Educating Housing providers in proper methods of resident

To improve the status of the Housing provider by:
Creating a Code of Ethics
Working to build an image respected by the community
Maintaining rental property to the condition of the applicable codes of the local community.
Work together to improve the housing stock of the local communities.
Educating members in housing provider-resident relations.
Working toward long range goals of creating laws to protect the housing provider and his property.
Educate residents how to be a good resident and to help residents and housing providers co-exist.

ARTICLE III

MEMBERSHIP

Section 1. Classification: There shall be 3 classes of members.

Regular members: Those persons engaged in or desiring to be real estate investors. Regular members have 1 vote per membership.

Vendor members: Those persons engaged in businesses that would be beneficial to the association and its members. Vendor members have no voting rights.

Dual members: Those persons who fulfill both regular and vendor qualifications. They shall have all the rights and privileges as a regular member with the benefits of vendor membership. Dual members have 1 vote per membership.

Section 2. Acceptance and revocation of Membership. Any person who has applied for Membership and paid the dues established by the Association shall be a Member of the Association unless the Board, or such persons or committees as the Board may establish for the purpose, determines that there is just cause to decline or revoke the Membership. No refund of annual dues will be given to a Member who is terminated.

Section 3 – Authority of the Board. The LEREIA Board of Directors shall have final authority to determine all matters pertaining to LEREIA membership.

Section 4. Emblem. Use of LEREIA Emblem, telephone number, email address by any member for personal non-organization business is strictly prohibited.

Section 5 . Admission

Applications shall be in writing stating name and address, the number of units and their cities and states.
Regular members shall pay yearly dues.
Vendor members shall pay yearly dues.
Dual members shall pay yearly dues.
Reinstatement: Application for reinstatement of regular, vendor and dual members shall be by paying yearly dues.

Section 6. Voting Rights. Members in good standing, over the age of 18 years old, shall be entitled to one vote in the election of the Board, and on such issues the Board feels should be brought before the Membership.

Section 7. Code of Ethics for LEREIA Members

It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing Law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in Section 4112.01 of the Revised Code, ancestry, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.
Shall provide a level of competent service to residents as required by law as well as the normal standards of the area.
Shall provide a true picture in their advertising and representation to the public.
Shall comply in spirit and letter with rules and regulations prescribed by law and government agencies for the health, safety, and progress of the community.
Shall strive to provide fair values for the resident community.
Shall agree to indemnify the Association for any damage suffered by the Association as a result of false or inaccurate information provided by the member.
Shall strive to provide the best possible housing at a reasonable cost so that all deserving may enjoy a better standard of living.

Section 8. Suspension, Termination Expulsion, or Discipline of Members

LEREIA may terminate the membership of any member for any reason including but not limited to conduct that the Board deems detrimental to the objectives or interests of the corporation or in violation of its constitution, Bylaws, Code of Ethics, Rules and Regulations, or Policies and Procedures upon a two-thirds vote of the Board of Directors. Specific reasons for removal of a member shall include, but not be limited to, violations of the laws of a state, or the United States of America or failure to comply with the requirements of these Bylaws, Rules and Regulations or Policies and Procedures promulgated from time to time by the Board of Directors; or any other action that is not in the best interest of the Association as solely determined by a two-thirds majority of the Board of Directors. If a Member is removed, no refunds of any membership dues shall be given.

“Conduct unbecoming a member of the LEREIA family is defined as any conduct that:

Is incompatible with the best interests of the public or of members of the LEREIA family; or
Tends or threatens to harm the standing or reputation of the LEREIA family in the local or global community;

Violation of the policy defining “conduct unbecoming a member of the LEREIA family” may result in disciplinary action against the offending member. Disciplinary action can result in a private reprimand or dismissal from the organization. A private reprimand is communicated to the individual violating the “conduct policy” as a warning. Dismissal means removal from the member’s office or organization.

ARTICLE IV

OFFICERS

Section 1. Officers

Term: Officers shall serve a minimum term of 1 year in their respective office and no more than 3 consecutive terms in the same position, without the approval of the board. At the discretion of the board, Officers may serve more than the 3-year limit of consecutive service to the Board of Directors. If the board is unable to recruit more members willing to step up and serve, the term limits may be extended. Directors may hold office until a replacement is found.
The elected officers of this Association shall be a president, a vice-president, a secretary, and a treasurer to be elected from the Board of Directors.
The Association shall defend, indemnify and hold harmless each Officer of the Association from any liability which may arise from the activities of such Officer in the performance of his or her duties on behalf of the Association.

Section 2. Duties of the Officers

The President shall:
Preside at all meetings
Appoint all committees except the nominating committee
Serve as ex-officio member of all committees, “excluding the nominating committee”.

The Vice-President shall:
Serve in the absence of the President
Perform such other duties and responsibilities when requested by the president.

C. The Secretary shall:

Be responsible for maintaining all records and documents of the proceedings of the Association.
Keep on file all committee reports.
Keep the Associations official membership roll (unless another officer or staff member is assigned this duty by the president); and to call the roll where it is required.
Make the minutes and records available to members upon request.
Notify officers, committee members and candidates of their election or appointments.
Furnish committees with whatever documents are required for the performance of their duties and have on hand at each meeting a list of all existing committees and their members
Other duties and responsibilities as the board requires.

The Treasurer shall:

Be responsible for maintaining a record of the fiscal affairs of the Association.
Prepare an accurate financial account of all funds received and paid out monthly.
Make interim reports when requested by the president.
Make a full financial report annually.
Shall not disburse funds except by authority of the Association.
The president shall appoint or nominate, to be elected, an Audit Committee of three who will audit the Treasurer’s books and report at the March meeting. The books should also be audited whenever there is a change in the office.
Turn over to his successor, or to the Board, all money or property of the Association held by him on the expiration of his term or removal from office and such other duties and responsibilities as the Association may require.

The Board may decide whether or not to hire an Executive Director who shall:

Perform and supervise all tasks required in the day-to-day operation of the Association’s activities, and such other and further duties as shall from time to time be required of him/her by the board. A full job description will be kept under separate cover from these bylaws. This shall be a paid position. The board may modify the compensation of the executive director to include incentive pay.

ARTICLE V

MEETINGS

Section 1. Regular. The regular meeting of the Association shall be held on the first Tuesday of each month.

Section 2. Annual. The regular meeting in JUNE shall be the ANNUAL MEETING. Business at the annual meeting shall include the Installation of New Officers and reports of all Officers and Standing Committees.

Section 3. Board of Director’s Meeting. The regular meeting of the Board of Directors shall be held the second Tuesday of each month at the offices of the Lake Erie Real Estate Investors Association or other such place as authorized by the Board.

Section 4. Special. A Special meeting of the membership may be called at any time by the President or by a majority of the Board of Directors. The Executive Director shall send notices to the membership of all Special Meetings of the Association.

Section 5. The board has the ability to modify the dates and/or times of the above meetings with two-thirds board approval.

Section 6. Quorum. Five (5) Director members attending any meeting of the Association shall constitute a Quorum. If insufficient number of Directors attend a board meeting, they may contact a board member and obtain their vote by proxy.

Section 7 Vacancy. A Vacancy in office may be filled by the Board of Directors at a Regular or Special meeting.

ARTICLE VI

DIRECTORS

The governance of the Association shall be vested in its Directors, who shall have all powers to operate the Association in accordance with the By-Laws. It also shall have discretionary powers to act on matters relating to administration of the Association which are not specifically current, duly elected or otherwise provided for in the By-Laws.

Section 1. Directors

Term: Directors may serve a 3-year term of service on the Board unless extended by the board or until a successor Director has been elected.

Nomination and Election. A nominating committee composed of three (3) members shall be elected at the February meeting. Their duty will be to submit a list of candidates to fill Director vacancies.

The number of Directors shall be no less than eight (8) elected from the general membership.

Election of Directors
1. Election to be held at the April meeting.
2. Directors will be elected or re-elected by a simple majority of members present at the April meeting.

The Association shall defend, indemnify and hold harmless each Director of the Association from any liability which may arise from the activities of such Director in the performance of his or her duties on behalf of the Association.

Removal of Directors

If a Director Misses 3 consecutive unexcused board, without “just cause”, he/she may be moved from the position of Director. Habitually or willfully neglecting member’s duty; or Habitually intoxicated on duty, whether by alcohol or non-prescription drugs maybe reason(s) for removal of director.

Section 2. Duties and Powers of the Directors

A meeting of the Directors may be called by the President, a Vice-President, or any Director, by written notice given at least 10 days before the date of such meeting, to each Director, by mail, e-mail or personal phone call, at his address as it appears on the records of the Association. Notice of the time, place and purpose of any such meeting may be waived in writing, either before or after the holding of such meeting, by any Director. Such waiver shall be filed with or entered upon the records of such meeting. The attendance of any Director at any meeting of the Directors without protesting, prior to the commencement of the meeting, the lack of proper notice shall be deemed to be a waiver of such notice of such meeting.

Five (5) of Directors shall constitute a quorum for a meeting of Directors. A majority of Directors in office shall constitute a quorum for filling a vacancy in the authorized number of Directors or in the officers of the Association.

The Directors shall hold any money or property from time to time received by them. Such money or property shall, together with the income, and the gains and profits arising therefrom, be turned over to the Association. The Directors shall be responsible only for such money or property as shall actually be received by them as Directors here under. It shall not be the duty of the Directors to collect any sum, but they shall receive and hold as Director hereunder such money and property paid over to them from time to time by contributors to the Association.
The Directors may consult with legal counsel with respect to the meaning or construction of the Bylaws regulations the articles of incorporation of this association, action, proceeding, or question of law. The Directors shall be fully protected with respect to any action taken or omitted by them in good faith pursuant to the advice of such counsel.
The Directors shall use ordinary care and reasonable diligence in the exercise of their powers and the performance of their duties as Directors hereunder. The Directors shall not be held accountable for any mistake of judgment or other action taken in good faith, or for any loss, unless resulting from their own negligence or misconduct. The Directors shall not be held accountable for any loss sustained by the LEREIA Association by reason of purchase, retention, sale or exchange of any investment by the trustees in good faith and in accordance with the bylaws of this Association.
The Directors shall deduct from and charge against the LEREIA Association any taxes which may be imposed upon the Association or the income or gains and profits therefrom, which this corporation is required to pay.
The Directors shall keep full accounts of all their receipts and disbursements. The books and records of this corporation shall be open to inspection by the Directors at all times.

Voting: The Directors may also vote in accordance with the following means:

Members of the Board of Directors may participate in any meeting of the Board or such committee through the use of a conference telephone, web meeting, or other communications device by means of which all persons participating in the meeting can hear each other. Participation in such meetings will constitute attendance and presence in person at the meeting of the person or persons so participating, except where a Director or Committee Member participates in a meeting for the sole purpose of objecting to the transaction of any business on the grounds that the meeting has not been lawfully convened or called. The act of a majority of the Directors present in person or by proxy at a meeting at which a quorum is present will be the act of the Board of Directors, unless the act of a greater number is required by law or by these Bylaws.

Internet Meetings: Board members shall also be permitted to hold meetings of the Board through Internet communication if such can be arranged so that all Board members shall participate. An Internet chat area will be used for the purpose of any/all Internet. meetings. The Organization shall take such steps as it deems appropriate, under the circumstances, to assure itself that communications via Internet chat are authentic. The use of the Internet for participation shall constitute as an official meeting and the Secretary shall record the minutes of the meeting as such.

ARTICLE VII

COMMITTEES

The standing committees shall be Budget, Legislative and Membership. Ad Hoc committees will be created as needed.

ARTICLE VIII

Disclosure/Conflict of Interest

As long as an individual is serving on the Board of Directors of the Association, that individual owes a strict duty of loyalty to the Association. This means that Directors of the Association must exercise their independent judgment in the best interest of the Association and avoid conflicts of interest. A conflict of interest arises any time a director of the Association does not act in the best interest of the Association, but instead subordinates the interest of the Association to his or her own or someone else’s interests. If an action of the Board could reasonably be considered a conflict of interest for a Board member, and it requires a vote, the affected Board member may be asked to absent himself/herself from the vote. It is noted that service on the board assumes a position in the industry that will have real estate investing related interests. Participation in the industry will obviously necessitate some potential conflicts. The Board will refer to the Conflict of Interest Policy in handling decisions of potential conflict.

ARTICLE IX

FISCAL YEAR

The fiscal year of this corporation shall end on the 31^st day of December in each year, or such other day as may be fixed from time to time by the Board of Trustees.

ARTICLE X

PARLIAMENTARY AUTHORITY

The rules contained in the current edition of Robert’s Rules of Order Newly Revised shall govern the Association in all cases to which they are applicable and in which they are not inconsistent with these bylaws and any special rules of order the Association may adopt.

ARTICLE XI

DISSOLUTION

Upon the dissolution or winding up of affairs of this Association, the Board of Directors, after providing the payment of all obligations, shall distribute any remaining assets to any other non-profit tax-exempt organization.

ARTICLE XII

AMENDMENT OF BYLAWS

These bylaws may be amended at any regular meeting of the Board of Directors of LEREIA by a two-thirds vote, provided that the amendment has been submitted in writing at the previous regular meeting or has been sent to each member at least 10 days prior to the meeting at which it will be considered.