These By-Laws, adopted by a majority vote of the members in attendance at the regular meeting of December 3, 1954, are for the purpose of setting forth the fundamental principle on which this organization shall operate and establish the rules by which it is to function.
Article I – Name Section 1
This organization shall be called the BAY AREA MORTGAGE ASSOCIATION.
Article II – Purpose Section 1
The purpose of this Association is to bring together at regular intervals young men and women in the mortgage lending field for the mutual exchange of ideas. The aim is to benefit each member by broadening the scope and knowledge of his own work and to build up a circle of contracts that in itself will be of real value to the individual.
Article III – Membership Section 1****
New members will be limited to men and women who derive their livelihood directly from activities in the mortgage lending and private mortgage insurance field. Membership for those who are engaged in activities that are merely allied to mortgage lending and/or insurance will not be encouraged. Membership will not be limited in number. To encourage young Membership in the organization, dues for the members under 40 will be discounted. (An old member need not withdraw or be excluded from Membership on the attainment of his 40th birthday.) Section 2
The name of each prospective member shall be submitted to the Membership Committee in writing by a sponsor. The prospective member will be introduced at the first meeting he attends. BAMA Members will have two weeks in which to make known to the Chairman of the Membership Committee any objections they may have to their entrance into the organization. If any objections arise, the Chairman will discuss the case with the prospective member’s sponsor. All names of candidates who have been passed unanimously by the Membership Committee will be so announced at the next regular meeting and this shall constitute acceptance for Membership in the Association. Section 3**
The annual Membership Fee shall be current and payable in advance. Section 4*
The Charter Membership shall be made up of those members who pay their dues by the regular meeting in January of each year.
Article IV – Officers Section 1***
The officers of this Association shall be a President, a Vice-President: Program, a Vice-President: Membership, a Secretary and a Treasurer. Section 2
The officers shall be elected by a majority ballot at the June meeting each year to serve a one year term from July 1 to June 30.Section 3
Duties of the Officers:
President – The President shall preside at all meetings at which he is present, shall exercise general supervision over the affairs and activities of the Association, and shall serve as an ex-officio member of all standing Committees.
Vice-President: Program – The Vice-President – Program shall be responsible for and arrange the program at each meeting of the Association, and shall assume the duties of the President during his absence, and perform other functions as may be prescribed by the President from time to time.
Vice-President: Membership – The Vice-President – Membership shall be Chairman of the Membership Committee, which shall be appointed by him with the concurrence of the President, and shall exercise general supervision and control of the Membership activities of the Association.
Secretary – The Secretary shall keep the minutes of all meetings, act as custodian of all club documents, and conduct all correspondence of the Association.
Treasurer – The Treasurer shall receive and keep an accurate record of all club funds, keeping them in a satisfactory depository and pay out disbursements as required.
Article V – Meetings Section 1
The Association shall meet once a month.
Article VI – Committee Section 1
The Standing Committees shall be as follows:
Other Committees shall be appointed by the President as needed.
Article VII – Order of Business and Parliamentary Authority Section 1
The general conduct of business of this Association will be orderly but informal as carried out at the discretion of the President. In cases of controversy, Roberts Rules of Order, Revised, shall be the authorized reference.
Article VIII – Amendments Section 1
These By-Laws may be adopted and amended by a majority vote of the members at any regular meeting.
R. J. Wride
Fred N. Richardson
* ARTICLE III – Membership – was amended at the meeting of December 3, 1953 by the addition of Section 4.** ARTICLE III, Section 3 – The annual Membership was made $10 at the regular Membership Meeting of July, 1960. The annual Membership Fee of $10 was changed to $15 at the regular Membership Meeting of November, 1973.*** ARTICLE IV, Sections 1 & 3 – Officers were amended at the meeting of May 4, 1965.**** ARTICLE III – Membership – was amended at the meeting of August 3, 1976 to include women and eligible for Membership.***** ARTICLE III – Membership – was amended at the meeting of March 7, 1978 to include private mortgage insurance representatives and make them eligible for Membership.(4/6/78)