DECEMBER 1st - The Dues Collection Policy is posted on realtor.org outlining deadlines for annual dues remittance.
JANUARY 1st - Dues from the local associations are due and owing to the National Association of REALTORS.
JANUARY 1 - MARCH 31 - The grace period for receipt of NAR dues ends on March 31. Dues remitted to NAR must be postmarked no later than March 31 and must cover the member board's Primary members who are Active Realtors and Realtor Associates in the count from the National Realtors Database System (NRDS) as of April 1. If the annual dues are not paid by April 1, NAR may assess such late charges and administrative fees up to 1.5% monthly on the outstanding balance. Any member board, Institute Affiliate member or Individual member delinquent in payment of dues by more than 90 days may be required for show cause as to why the Board of Directors, at its discretion, should not revoke the charter of such member board or drop such Institute Affiliate member or Individual member from membership.
APRIL 15 - NAR Treasurer notifies each State Executive Officer of payments outstanding for their member associations.
The Finance Committee is responsible for the collection of NAR dues from its Boards, with identifying specific patterns of delinquency in the collections process, and with requiring Boards to provide specific written explanations of delinquencies, or to require the Board or its designated representative to appear at hearings to explain the occurrences of such patterns.
MAY 1 - NAR Treasurer prepares a delinquency notice and sends it to each individual Board Executive Officer whose Board's dues have not been fully paid according to NAR's NRDS count as of April 1. Copies of this correspondence are provided to the Board President, State President, State Treasurer, State Executive Officer and NAR Finance Committee Members.
MAY 15 - NAR Treasurer corresponds with delinquent Boards (Executive Officer and President) requesting written correspondence addressed to the Finance Committee of NAR stating reasons for unpaid dues or providing documented information to prove that the Board has, in fact, fully paid its dues. The Treasurer's correspondence indicates that unless the delinquency is resolved prior to May 31st, the Board or its designated representative will be required to appear before the Finance Committee or Sub-Committee at a special hearing to resolve any delinquencies.
Should NAR have reason to believe that a Member Board has failed to remit the proper amount of dues to NAR pursuant to Article II, Section 1 of the NAR Bylaws for the current year, or for any period within three years prior to the current year, it may initiate inquiry to determine whether such Board fully paid its dues. Should written correspondence fail to resolve the matter to the satisfaction of the NAR Treasurer, a hearing may be scheduled to take place at the next regularly scheduled meeting of the Finance Committee or at any special meeting of the Finance Committee called for the purpose of addressing the alleged dues deficiency, provided, however, that any Member Board must have at least 30 days prior written notice of such regular or special meeting.
The notice to the Local Board is addressed to the Board President with copies to the Board Executive Officer, Board Treasurer, State President, State Treasurer, State Executive Officer, Regional Vice President, and NAR Finance Committee and sets forth the procedure to be followed in the hearing, and emphasizes that the issues to be determined by the Finance Committee or Sub-Committee is whether the Board has appropriately paid its dues in full to NAR or whether there are extenuating and mitigating circumstances that should be considered.
The requirements to appear will be vigorously enforced in the case of Boards repeatedly delinquent from year to year. Failure to appear will result in the Finance Committee presenting a recommendation to the Leadership Team and Executive Committee based on the information available to them at that time.
At such meeting the Member Board will be asked to state the reasons for having to pay the proper amount of dues or provide documentation indicating it fully satisfied its dues obligation.
If the Member Board is a local Board, the State association to which it belongs shall receive notice of the hearing and have the ability to be present.
The Finance Committee may recommend disciplinary action be taken against any Board to be found in violation of Article II of the NAR Bylaws, which disciplinary action may include revocation of the Board's charter.
EXECUTIVE COMMITTEE - After consideration of the findings and recommendations of the Finance Committee, the Executive Committee may determine disciplinary actions or recommend to the Board of Directors disciplinary action including possible revocation of the delinquent Board's charter or any other recommendations or punitive measure deemed necessary.
NAR HEARINGS- NAR Finance Staff distributes copies of written responses from delinquent Boards to the Finance Committee. If there are delinquent Boards who have not submitted a written response, NAR Finance staff summarizes telephone conversations for the Finance Committee.
The hearing is conducted by a quorum of the NAR Finance Committee or Sub-Committee. The hearing is staffed by the Finance Division in consultation with the Board Policy Division and the Legal Affairs Division. Failure to appear at the hearing will result in the Finance Committee making a decision based on the information available to them at that time.
NAR Treasurer also requests that the President of the State association or other State association representative(s) duly designated by the President attend the hearing and present the recommendation of the State association.
The Finance Committee or Sub-Committee, upon review of the results of the hearing, if necessary, shall present to the Executive Committee and subsequently the Board of Directors its recommendation of disciplinary action consisting of reprimands, fines, suspension of entitlements, and/or revocation of the Board's charter.
NAR BOARD OF DIRECTORS- Board of Directors reviews the recommendations, if any, of the Finance and Executive Committees regarding the delinquent Board and determines the necessary disciplinary or punitive measures.
In the event the charter of any Board is revoked, the jurisdiction shall revert to the status of territory unassigned by NAR, and this shall be administratively entered upon the Board Jurisdiction records of NAR, and a report shall be made to the Membership Policy and Board Jurisdiction Committee. In the event the action to revoke a delinquent Board's charter is anticipated and the State association makes a recommendation for reassignment of the territory of the Board whose charter is being revoked, the Membership Policy and Board Jurisdiction Committee may consider and approve such reassignment at the next business meeting, subject to the actual revocation being made by the Board of Directors.
NOTE: Copies of all correspondence will be provided to the Leadership Team, Board Policy Division, Legal Affairs Division, and the Office of the Comptroller.