top things you need to know as a new association executive 2012 ae institute june babiracki barlow...
TRANSCRIPT
Top Things You Need To Know as a
New Association Executive2012 AE Institute
June Babiracki Barlow (for Susie Kater)
InsuranceGoverning DocumentsProfessional Standards
Insurance
WHAT KIND OF INSURANCE DO I ALREADY HAVE?NAR Professional Liability
WHO IS INSURED?The National and each state and local Association of REALTORS®.Each AOR and, including but not limited to, its:
DirectorsOfficersEmployees Volunteers acting on behalf of the AORPaid mediators, arbitrators and ombudsmen
WHAT ARE THE LIMITS ON THE NAR POLICY?$1M per claim
Insurance …continued
WHAT DOES THE NAR POLICY COVER?Wrongful acts in the discharge of duties for AOR including Professional Standards or other committees, meaning, misconduct including, but not limited to, any:
Negligent actError OmissionMisleading statementBreach of fiduciary duty
Personal Injury:SlanderFalse arrestWrongful entry or eviction
Insurance Coverage… continued
Publishers Liability:Trademark or copyright infringement etc.
Crime – $3,000 limit each lossLockbox liability – defense onlyAnti-trust – defense only Discrimination – defense onlySexual harassment – defense onlyEmployment practices – defense onlyTrademark or copyright infringement by an MLS – defense onlyBreach of contract – defense only
Insurance …continued
Duty To DefendThe policy contains a “duty to defend:”
The insurer is required to hire an attorney to defend you and to pay all costs of litigation, in excess of your deductible, up to the claim limit
How Much Is My Deductible For The Nar Insurance?$5,000 to $8,000 per claim, depending on size of your membership
Do I Have To Pay For The Nar Insurance?No, it is provided to you free of charge by NAR
Can I Lose Coverage Under The Nar Policy?Yes, to maintain coverage under the NAR policy you must:
Have your Bylaws and MLS Rules approved by NARAdhere to and operate in compliance with NAR policy
Additional Insurance? • You can purchase whatever additional insurance you think you
may need – either from the NAR insurer or some other insurer
C.A.R.’s insurance (covers C.A.R. & subs):
• Professional Liability• Professional Liability Umbrella• Commercial General Liability – for Bodily Injury and Property Damage Liability• Employment Practices Liability• Auto Liability – for both non-owned and hired autos• Property Insurance – like fire insurance• Earthquake Insurance• Fiduciary Liability – for employee benefits administration• Crime Policy – for employee theft etc.• Cyber Liability – for damage caused to others through our web site• Workers Compensation• Directors and Officers Liability
Other Insurance Issues
WHAT ELSE DO I NEED TO KNOW?Named insured schedule:
If you purchase your own insurance, add all of your subsidiaries and MLS as named insureds
Notice:If you are served with a lawsuit, notify your insurance broker and/or insurance carrier immediately Late notice to insurer can endanger coverage
Deductible:Try to get an endorsement on your association’s separate policy that says that payment by the NAR policy satisfies your deductible
Governing DocumentsBylawsMLS rules
Timing
Submit association bylaws and MLS Rules to NAR – every every two (2) years C.A.R. Model Documents
California Model BylawsCalifornia MLS RulesCalifornia Code of Ethics and Arbitration Manual
Preapproved Documents (CA law and NAR approval)VoluntaryAmendments
Common Bylaws Issues
• Membership requirements
• Secondary v. Primary• Three way agreement• Variable Dues• Elections
– Meeting v. ballot
• Law• Bylaws• Roberts Rules
Professional Standards
• Certified Pro Standards Administrator• Next training October 2, 2012• Lateral honoring of suspensions• C.A.R. local training• Ombudsman
Multiple Listing Service
Palsson (1976) and People v. N.A.R. (1981)Tax IssuesRelationship to Regional MLS
Yet to be done…Electronic central filing system/repository
More client facing materials
New legal products
Mediation prototype plan (buyer-seller) w/ REBS
Ombudsman program ready to go as of July
Trending trial data with new westlaw tool
A note about two C.A.R. Major Services
Legal HotlineZipforms
Questions?
WHO DO I CONTACT FOR HELP?
Susie Kater, C.A.R. Senior Corporate Counsel, 213-739-8215, [email protected] Susie for questions regarding:
Pro StandardsBylawsBODCommitteesElectionsDuesMembership issuesHow to keep from pulling your hair out!!
Contact Elizabeth Miller-Bougdanos, C.A.R. Senior Corporate Counsel, 213-739 -8287, [email protected]
MLS issues