Massachusetts Association of Realtors Inc

“The executive committee is comprised of officers, regional vice presidents, four at-large directors, the mar ceo/evp, one local association executive and the immediate past president. The executive committee shall be authorized to act on behalf of the board of directors between meetings of the board of directors and shall be authorized to take action on the following items: (a) the creation of task forces and work groups; (b) amendments to the policy manual, public policy statement, and other policies and guidelines; (c) employment and prescriptions of the functions of the ceo/evp; (d) each fiscal year, unbudgeted expenditures in the aggregate of up to 3% of the approved annual mar budget; except that if any prior unbudgeted expenditure has been ratified by the board of directors, it shall not be included in this annual limit. All minutes of the executive committee shall be posted for the board of directors to view and the board of directors shall be notified when the minutes are posted. The executive committee may not take action but may make recommendations to the board of directors relative to the following items: (a) mar bylaws amendments; (b) the mar annual budget; (c) any action involving the purchase and/or sale of a substantial portion of mar's assets, as well as any increase in long-term debt; (d) member dues and/or assessments; (e) election of mar officers, or mar or nar directors; (f) disciplinary procedures; (g) local member association jurisdictions; (h) the termination of the ceo/evp; and (i) dissolution of the mar, nor may the executive committee exercise any power that may not be delegated by the board of directors under massachusetts law.”

“The organization has 77 board members and one of those board members is not considered independent.”

“Members of the association can elect another member to the governing body upon approval of other members.”

“The members vote on any policy changes to the organization.”

“The regulatory filings of the organization will be reviewed by the controller, the executive vice president/chief executive officer and the audit committee, and will be received by the members of the board of directors.”

“Members with a conflict of interest must immediately disclose their conflict at the outset of any discussions by a decision making body pertaining to the business or any of its products or services. Such members may not participate in the discussion relating to the conflict other than to respond to questions asked of them by other members of the body. Furthermore, no member with a conflict of interest may vote on any matter in which the member has a conflict of interest, including votes to block or alter the actions of the body in order to benefit the business in which they have an interest. The ceo/executive vp oversees the conflict of interest process.”

“The association's independent evp committee determines compensation for the evp. The committee reviews current market conditions, comparable data and compensation of others in the industry which are taken into consideration and documented in the minutes to the meeting. This committee determined the compensation for theresa hatton, executive vice president in 2021 through a three year contract. The last review was completed in 2025. The agreement auto renews each year. Compensation for other employees is set by the executive vice president.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request at the organization's office.”