The Real Estate Council Inc

“The chairperson, chairperson-elect, secretary, treasurer, and the immediate past-chairperson, and any directors so designated by the chairperson shall constitute the executive committee. The president shall be a non-voting member of the executive committee. The executive committee may hold meetings at such time and place as the chairperson or a majority of the voting members of the executive committee shall determine. The chairperson shall preside at all meetings of the executive committee. In his or her absence, the chairperson-elect shall preside at such meetings. The executive committee shall have and may exercise all of the powers granted to the board of directors of a texas non-profit corporation. For the avoidance of doubt, any powers to act granted to the board under the texas business organizations code (tboc) and other applicable law shall be vested in the executive committee unless the executive committee expressly delegates such powers to the board pursuant to a resolution adopted by a majority of the executive committee.”

“The bylaws were revised to remove definitions of certain member groups which may change over time, clarify updates for current standard business language, lower maximum number of directors from 60 to 50, change certain board positions from nonvoting to voting, add the ability of proxy votes to count toward quorum, and clarify ability of president to delegate certain responsibilities to other staff members as long as in compliance with signing policy approved by the board.”

“The organization has members, but no stockholders. As a 501c6, it is a membership organization, focused on the commercial real estate industry within dallas and collin counties.”

“There are no committees who are authorized to act on behalf of the board.”

“A thorough review is performed by top management officials. After all edits have been incorporated in the return, the final copy is provided to the signing officer for review and approval before filing with the irs.”

“The purpose of the conflict of interest policy (the "policy") is to protect the interests of the corporation, when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer, director or committee member of the corporation or might result in a possible excess benefit transaction. This policy is intended to supplement, but not replace any applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the interest and be given the opportunity to disclose all material facts to the directors and members of committees who are considering the proposed transaction or arrangement. After disclosure of the interest and all material facts, and after any discussion with the interested person, the interested person shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining directors or committee members, as the case may be, shall decide if a conflict of interest exists. Any interested person may make a presentation at the board or committee meeting, but after the presentation, the interested person is asked to leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether the corporation or relevant committee can obtain with reasonable efforts, a more advantageous transaction or arrangment from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors or committee members whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, the disinterested directors or committee members shall make the decision as to whether to enter into the transaction or arrangement.”

“The compensation for the top management members is approved by an independent compensation committee. The compensation is compared to executive compensation by reviewing comparability data of similar organizations. The approval of the top management members' compensation is documented in email correspondence among the compensation committee. The compensation of all other staff, including officers who are employees, is reviewed by the compensation committee based on recommendation by the ceo.”

“The financial statements, conflict of interest policy, governing documents, and form 990 are made available for public inspection upon request.”

“The real estate council, inc. (trec) utilizes volunteers to serve on the board of directors; to oversee committees; and to assist with all operations of the trade association. Volunteers assist with all programs and events.”