LE A D E RSH I P RE S OU R CE S
BYLAWS
GOLDEN EMPIRE MULTIPLE LISTING (GEMLS) ARTICLE 1.
NAME, PURPOSE, AND OFFICES Section 1.1. Name. The name of this corporation is GOLDEN EMPIRE MLS, INC. (the “Corporation”). The Corporation is a wholly owned subsidiary of the Bakersfield Association of REALTORS®, Incorporated (the “Association”) Section 1.2. Primary Purpose. The primary purpose of the corporation is to conduct a multiple listing service (“MLS”) business in the greater Bakersfield, California area and such other areas as determined by the Board of Directors of the Corporation (the “Board”). A multiple listing service is a means by which authorized participants
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BAKERSFIELD ASSOCIATION OF REALTORS®
make blanket unilateral offers of compensation to other participants (acting as subagents, buyer agents, or in other agency or non-agency capacities defined by law); by which cooperation among participants is enhanced, by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analyses, and other valuations of real property for bona fide clients and customers; by which participants engaging in real estate appraisal contribute to common databases; and is a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and the public. Entitlement to compensation is determined by the cooperating broker’s
performance as procuring cause of the sale (or lease). Section 1.3. Participation and Authorized Access. A Participant is any individual who applies and is accepted by the MLS, meets and continues to meet all of the following requirements of either a Broker Participant or an Appraiser Participant as defined below in sections 1.3.1 and 1.3.2. 1.3.1. Broker Participant. A Broker Participant is a Participant who meets all of the following requirements: a. The individual or corporation, for which the individual acts as a broker/officer, holds a valid California real estate broker’s license; b. The individual is a principal, partner, corporate officer, or
