ValleyMLS Board Duties

Voting Directors of ValleyMLS.Com shall be the governing body of ValleyMLS.com and shall have control of all the affairs of ValleyMLS.com and shall authorize all expenditures of funds. The Board of Directors shall, prior to the end of each fiscal year, cause a budget to be prepared reflecting projected costs and expenses of ValleyMLS.com for the next fiscal year, indicating projected income fzom all sources.

The budget shall be submitted to the general membership of the Huntsville Area Association of REALTORS® at a general membership meeting for approval on a date not less than 30 days prior to the first day of the next fiscal year. The Board of Directors shall employ such executive, legal and office personnel it deems necessary to care for and maintain the properties of ValleyMLS.com and otherwise conduct the administrative business of ValleyMLS.com.

The Board of Directors shall have the right to make an audit of all books and accounts at any time without notice. The Board of Directors from time to time, shall have the power to adopt such Rules and Regulations that they may deem appropriate subject to final approval of the Board of Directors of the Huntsville Area Association of REALTORS® (shareholder).

Except as otherwise provided in these Bylaws and Rules and Regulations, the action of the Board of Directors shall be final.