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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July

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AMENDED ARTICLES of INCORPORATION of the PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED

Know All Men By These Presents: The undersigned incorporators, all of legal age and majority of whom are residents of the Philippines, have this day voluntarily agreed to form a non-stock and non-profit professional association under the laws of the Republic of the Philippines

THAT WE HEREBY CERTIFY: FIRST: That the name of this corporation shall be: PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED

SECOND: The Primary Purpose for which the non-stock and non-profit professional association was incorporated is:

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To register, unite and integrate all licensed and registered real estate service practitioner and as well as associations in the Philippines into one national body, in accordance with the provisions of Section 34, Article IV of R.A. 9646. To insure the accomplishment of the purposes, duties and responsibilities prescribed in RA 9646 and its Implementing Rules and Regulations; To take into consideration and observe the relevant Rules in Res. No. 2004-178, Series of 2004, particularly Rule 4 thereof (Cancellation of Accreditation) which reads: A Certificate of Accreditation of an accredited professional organization shall be cancelled or suspended by the Commission or by any concerned professional regulatory board upon approval or concurrence by the commission, ONLY AFTER DUE HEARING UNDER ANY OF THE FOLLOWING GROUNDS/CAUSES, such as, 5. The Accredited Professional Organization has not renewed its certificate of accreditation after a lapse of an unreasonable period from date of its renewability xxx; To consider and not to bar the automatic and mandatory membership of registered member from joining any other affiliate organization of real estate practitioners;
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The Secondary Purposes for which the corporation was incorporated are: 1. To issue certifications of membership in good standing upon payment of the fees and dues, lifetime or annually, to the licensed and registered members thereof, for presentation to the Professional Regulation Commission (PRC) for renewal of their Professional Identification Cards; To promote and maintain high standards of professional and ethical conduct in the exercise of the real estate profession; To keep an updated record, roster, roll and registry of all its licensed and registered members; To charge and collect reasonable fees and dues from its licensed and registered members and to provide them with all the benefits and privileges due them as members; To motivate and encourage the licensed and registered members to undergo the Continuing Professional Education (CPE) programs, activities and courses for the advancement of the real estate service profession; To conduct comprehensive reviews, meetings, seminars, educational courses, symposiums, forums and workshops preparatory to licensure examinations and which are requirements of the CPE; To adopt, develop and enforce the National Code of Ethics and Responsibilities in the practice of the real estate service profession among its licensed and registered members, their responsibility to the public, the clients and the government and to the professional organization (AIPO);; To assist the Professional Regulatory Board on Real Estate Service (PRBRES) and the PRC in their function of safeguarding and protecting the legitimate and licensed real estate practitioners and assist the PRBRES and the PRC in monitoring all forms of advertisements, announcements, signboards, billboards, pamphlets, brochures and others of similar nature concerning real estate matters; To seek affiliations with other domestic and international real estate organizations whose purposes are also in accordance the association's own objectives and the provisions of RA 9646 and other related Philippine Laws on real estate service practice; To perform such other lawful functions as may be directed and upon approval by the Professional Regulatory Board of Real Estate Service (PRBRES) and the Professional Regulation Commission (PRC) pursuant to Sec. 34, Art. IV of R.A. No.9646; To coordinate with other government agencies, departments, government owned or controlled corporations or entities, as well as with other professional organizations, and recommend amendments, repeals, sponsorship of laws and
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or proposed Bills, ordinances or regulations, involving or affecting the real estate industry; 12. To develop, set up, train, screen, evaluate and provide a pool/list of qualified resource persons necessary to fully service and satisfy all the academic and technical and other skills required to fully administer and render Continuing Professional Education (CPE) program requirements of all its members; To accept and administer grants, bequests, bequeaths and personal properties, whether in cash or other property, movable or immovable and, endowments for the promotion of the aims of the association. To manage all assets and resources of the association for useful purposes and which will be beneficial to the association and its members; To acquire, purchase, own, hold, operate, develop, lease, mortgage pledge, exchange, sell and transfer in any manner provided by law, real and personal property, or any interest therein, as may be necessary and subject to the terms, stipulations, and conditions as the National Directorate may impose and which are necessary and proper in carrying out the associations objectives;

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15. To receive assignments of copyrights and other intellectual property rights and to charge and collect reasonable fees or charges for their uses; 16. To be a recipient of titles of properties and to hold and use the proceeds and income of stocks, bonds or other securities of any entity, organization or association, domestic or foreign for the benefit of the association and its members; To open any and all kinds of bank accounts, investment accounts or trusts and to invest the associations funds to businesses and activities which PhilRES deems necessary and proper and for purposes for which it was formed and for the benefit of its members; To establish a corporation, foundation or association which will help, assist and cooperate with PhilRES in all its activities and which will redound to the advancement of its members in the real estate profession.

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THIRD: The principal business office of PhilRES shall be at PHALTRA Bldg., #139 Matahimik St., UP Village, Quezon City, Metro Manila 1100, Philippines or at such other address/place as the National Directorate may designate from time to time:

(As Amended on 13 July 2011)

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NEW BY-LAWS of the PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED

ARTICLE I. NAME Section 1. The name of the non-stock corporation shall be PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED which, for purposes of these New By-Laws, is hereinafter referred to as PhilRES.

ARTICLE II. OFFICE Section 2. The principal business office of PhilRES shall be at PHALTRA bldg., #139 Matahimik St., UP Village, Quezon City, Metro Manila 1100, Philippines or at such other address/place as the National Directorate may designate from time to time.

ARTICLE III. DEFINITION OF TERMS Section 3. When used in these By-Laws, the following terms shall mean as follows: A. NATIONAL BOARD OF TRUSTEES - refers to the National Directorate of PhilRES composed of twenty-one (21) members/trustees who are duly elected during an Annual General Membership Meeting & Elections representing the regions from National Capital Region1 (NCR1), National Capital Region2 (NCR2), South Luzon, North Luzon, Visayas and Mindanao. B. NATIONAL OFFICERS - refers to the officers of PhilRES composed of the twentyone (21) elected trustees/members. C. CHAPTERS refers to the PhilRES Local Chapters organized nationwide within the regions of NCR1, NCR2, South Luzon, North Luzon, Visayas and Mindanao upon the acceptance by the National Directorate as such, are duly organized and existing in the
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various geographical and political subdivisions in the Philippines, the membership of which are composed of Regular Members. Membership in a Local Chapter and payment of the required association dues/fees are is one of the mandatory requirements to be considered as a bona fide and Member in Good Standing. D. LOCAL CHAPTER OF CHOICE refers to the Local Chapter where the individual member is a Regular Member. As such, and where said member has the right to vote and be voted upon as a Local or National trustee/officer or trustee thereof or of PhilRES. E. PhilRES-National refers to the national administrative secretariat office of the Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated. F. MEMBER IN GOOD STANDING refers to a Regular Member with a valid Real Estate Service Practitioners license and Professional Identification Card and who has paid his/her annual/lifetime association dues to his/her local chapter. An Accredited Salesperson listed under a licensed Real Estate Broker and with a valid Salespersons Accreditation Number and Identification Card issued by the Professional Regulation Commission (PRC), and who is updated in the payment of his/her PhilRES annual membership dues (referred as Annual Dues for brevity). A member in good standing is also one who is a member of a LOCAL CHAPTER OF HIS/HER CHOICE as certified by the LOCAL CHAPTER Secretary and as attested to by the LOCAL CHAPTER President. G. Kindred Organizations - refers to the existing, SEC registered and incorporated kindred and allied real estate service organizations, whether of local/national in scope and coverage, who performs services which are supportive or may complement or augment the plans and programs of PhilRES. The Kindred Organizations are, but not limited to the following: Institute of Philippine Real Estate Consultants, Inc. Philippine Association of Realty Consultants & Specialists, Inc. Institute of Philippine Real Estate Appraisers, Inc. Philippine Association of Realty Appraisers, Inc. Northern Mindanao Association of Real Estate Appraisers, Inc. Institute of Public Sector Appraisers of the Philippines, Inc. Real Estate Brokers Association of the Philippines, Inc. Philippine Realtors Foundation, Inc. Chamber of Real Estate Builders Association, Inc. National Real Estate Association, Inc. National Real Estate Association-Cebu, Inc. NAR Philippines, Inc. Philippine Association of Realtors Boards, Inc. Philippine Association of Local Treasurers & Assessors, Inc.
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Philippine Association of Municipal Assessors, Inc. Philippine Association of Assessing Officers, Inc. Philippine Council of Real Estate Educators, Inc. CREBA- Research, Inc. Subdivision and Housing Developers Association, Inc. Organization of Socialized Housing Developers of the Philippines, Inc. Philippine Allied Chamber of Real Estate Brokers and Licensed Salesmen, Inc. (PhilAcre, Inc) Federation of Real Estate Brokers Associations in Region 3 (FREBA R3), Inc. Pareb Constituent Member Boards Rebap Local Chapters Phil-Global Association of Realtors, Inc. NREA Chapters SUPRA SIRCRO

The existence, cognizance and acknowledgement of the functional relevance and functional utility of these Kindred Organizations depends on the importance of their works and cooperation that are supportive or may complement or augment the plans and programs of PhilRES. This, however, does not in any way grant them automatic membership rights and privileges with PhilRES. PhilRES may at anytime add or remove any Kindred organization from the list hereof, for whatever reason, and may engage their services that will serve the best interest of PhilRES and its general membership.

H. COLLEGE of FELLOWS - refers to active and exclusive members within the sectoral category of PhilRES, who have been elevated to the status of "Fellow". These are composed of a select group of licensed real estate practitioners who have consistently paid their annual membership dues on time, for at least five (5) years and who have distinguished themselves in the practice of the real estate profession.

ARTICLE IV. GENERAL MEMBERSHIP Section 4. Types of Membership A. The Types of Membership of PhilRES consists of: 1. Regular Members a. Founding Members b. Charter Members c. Ordinary Regular Members d. Senior Members e. Emeritus Members
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2. Associate Members a. Salesperson Members b. Kindred Trades Members

Section 5. Regular Members The Regular Members of PhilRES are: 1. Natural persons who are licensed and registered real estate service practitioners who have been duly licensed and recognized by the Professional Regulatory Board of Real Estate Service (PRBRES) pursuant to the provisions of Section 20 Article III as applicable of R. A. 9646, and its Implementing Rules and Regulations, and; 2. Those who have been admitted by PhilRES as a Regular Member pursuant to the provisions of Sections 14 and Section 34 Article IV of R. A. 9646, and its Implementing Rules and Regulations, and Section 19 Article IV of PhilRES By-Laws.

Section 6. Founding Regular Members The Founding Members of PhilRES are: 1. The Honourable Member of the House of Representatives who is the principal author of Republic Act 9646, and its Implementing Rules and Regulations and who is himself a duly licensed and recognized real estate service practitioner namely: a. Hon. Cong. Rodolfo G. Valencia

2. The first Board Members of the Professional Regulatory Board of Real Estate Service (PRBRES) namely; a. b. c. d. e. Hon. Eduardo Gutierrez-Ong Hon. Bansan C. Choa Hon. Ramon F. Cuervo III Hon. Rafael M. Fajardo Hon. Florencio C. Dino - Chairman; - Member; - Member; - Member; - Member.

3. All members of the Convenors Group who became Regular Members of PhilRES regardless of their date of admission as bona fide members of PhilRES. They are those who are, who were registered and licensed as such pursuant to Section 20 Article III of RA 9646, and its Implementing Rules and Regulations, and whose names appear in the Roster of Real Estate Service Practitioners Registry of the Professional Regulation Commission (PRC). Provided, they have filed their applications for licensing without examination with the national, provincial and/or regional business offices of the Professional Regulation Commission (PRC) on or before the close of business offices on 30 July 2011. The Convenors Group is composed of distinguished Real Estate Service Practitioners, who have shown exemplary performance and leadership to his/her fellow practitioners in
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the real estate profession. Moreover, the Convenors Group are those who have acted with a moral duty and obligation, to perform to the best of their ability, the functions, and capabilities of a real estate service practitioner. Further, the Convenors Group are those who have acted in the best interest of their respective organizations and their members and those who have exercised and have taken into consideration the constitutional rights of members guaranteed under Section 8 of Article III of the 1987 Constitution of the Republic of the Philippines. The Convenors Group are the distinguished ladies and gentlemen Presidents, and/or Chairmen of the Board, and/or Members of the Board of Directors/Trustees and/or Officers of the following real estate service associations and organizations: Institute of Philippine Real Estate Consultants, Inc. (IPREC) Enrico Melchor G. Sevilla - President 2010 Amelita E. Sarmiento - Chairman of the Board 2010 Juan B. Dayag - Vice President 2010 Philippine Association of Realty Consultants & Specialists, Inc. (PARCS) Domingo De Vera - President 2010 Victor Salinas Carolina Alvarez Institute of Philippine Real Estate Appraisers, Inc. (IPREA) Roche U. Rigos - President 2010 Ernesto M. Angeles Philippine Association of Realty Appraisers, Inc. (PARA) Dr. Mary Gaw So - President - 2010 Filipina Tuazon Real Estate Brokers Association of the Philippines, Inc. (REBAP) Jose Julius M. G. Topacio - Chairman 2010 Evangeline M. De Jesus - Vice President for MIS Josefina D. Magumcia - VP Internal Northern Mindanao Association of Real Estate Appraisers, Inc. (NORMINAREA) Pilar Torres-Banaag - President 2010 Philippine Association of Realtors Boards, Inc.(PAREB) Pilar Torres-Banaag - President 2010 Tomasito Academia - Chairman of the Board 2010 Jocelynn Coronado-Sison - Secretary General 2010 Chamber of Real Estate Builders Association, Inc. (CREBA) Florentino S. Dulalia, Jr. - President 2010

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National Real Estate Association, Inc. (NREA) Marissa P. Magsino - President 2010 Alejandro S. Maalac Chairman 2010 National Real Estate Association, Inc. Cebu (NREA-Cebu) Abundio C. Gultiano, Jr. - President 2010 NAR Philippines (NAR) Moises Canayon - President 2010 Elizabeth Villareal - Vice President Atty. Pagunuran Philippines Realtors Foundation, Inc. (PRFI) Jane Saguinsin - President 2010 Ma. Teresita B. Canlas - Executive Vice President 2010 Institute of Public Sector Appraisers of the Philippines, Inc. (IPSAP) Joselito C. Caballero - President 2010 Genaro N. Flores Vice President 2010 Philippine Association of Local Treasurers & Assessors, Inc. (PHALTRA) Nelson P. Quiambao - President 2010 Philippine Association of Municipal Assessors, Inc. (PAMAS) Mario G. Magcalas - President 2010 Philippine Association of Assessing Officers, Inc. (PAAO) Nelson E. Parreno - President 2010 Gener R. Sison - EVP Subdivision and Housing Developers Association, Inc. Jose De Guzman Philippine Council of Real Estate Educators, Inc. (PHILCORE) Amelita E. Sarmiento Florentino S. Dulalia, Jr. Organization of Socialized Housing Developers of the Philippines (OSHDP) Linda A. Tan Asian Valuers Association (AVA) Federico F. Cuervo SUPRA Filemon Saromo SIRCRO Arnulfo Canaria

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Federation of Real Estate Brokers Associations in Region3 (FREBA R3), Inc. Araceli S. Cauguiran - Past President 2009 Edward R. Tolentino

4. The Founding Incorporators/Trustees and witnesses to the Articles of Incorporation and By-Laws PhilRES.

Section 7. Charter Members The Charter Members of PhilRES are all those Regular Members of PhilRES, regardless of date of admission as Regular Members of PhilRES, who are registered and licensed real estate service practitioners as such, under the provisions of Section 20, Article III of RA 9646, its Implementing Rules and Regulations and those whose names appear in the Roster of Real Estate Service Practitioners Registry of the Professional Regulation Commission (PRC).

Section 8. Senior Members Any Regular Member, Associate Member or new member of PhilRES of the age of sixty five (65) years shall be considered as a Senior Regular Member or Senior Associate Member of PhilRES. Senior Members enjoy all the rights, privileges and responsibilities of a Regular Member and shall pay only eighty-percent (80%) of their annual membership dues and/or any other assessments. Senior Members may only lose their membership with PhilRES on any of the following grounds: 1. 2. Final conviction of a crime involving moral turpitude or fraud; Removal for any valid/legal causes or for violation of PhilRES By-Laws.

Section 9. Member Emeritus Members A Member Emeritus is a Regular Member who have been in good standing with PhilRES continuously for at least twenty-five (25) years with an untarnished record of loyalty and exemplary service to the organization. Regular members may be conferred the title of "Member Emeritus" upon written recommendation of the Committee on Membership and the Committee on Awards and upon approval by the National Directorate. Member Emeritus shall enjoy all the rights, privileges and responsibilities of a Regular Member. They shall be exempted from further payment of annual membership dues/fees and any other assessments, provided, they present their renewed valid PRC Professional Identification Card and to be able to exercise the right to give and receive proxies, to vote and be voted upon. Member Emeritus Members shall have the privilege to use the title "Member Emeritus".

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Member Emeritus Members may only lose their membership with PhilRES on any of the following grounds: 1. 2. Final conviction of a crime involving moral turpitude or fraud; Removal for any valid/legal causes or for violation of PhilRES By-Laws.

Section 10. Ordinary Regular Members Ordinary Regular Members are those Regular Members who are not classified as Founding, Charter, Senior, Emeritus nor Fellows of PhilRES.

Section 11. Associate Members Associate Members are natural persons engaged in kindred trades or occupations in the real estate industry such as, but not limited to accredited real estate salespersons. An accredited real estate salesperson is a natural person listed under a licensed Real Estate Broker, who performs service under the supervision of the latter, and who have been admitted by PhilRES thru the LOCAL CHAPTER OF CHOICE of his/her principal broker as a Salesperson Member pursuant to the provisions of Rule 2 Paragraph 2 of PRC Resolution No. 2004-178. The National Directorate may from time to time, subject to prior approval by at least 2/3 votes of all Regular Members in Good Standing voting in a referendum, in a Special Membership Meeting for the purpose, may approve membership of other kindred trades or occupations which may possibly be classified under the category of Associate Members by PhilRES.

Section 12. Sectoral Categories of Real Estate Practitioners Sectoral Categories of Members shall refer to and consist of the following: 1. Real Estate Consultant - is a duly registered and licensed natural person, who for a professional fee, compensation or other valuable consideration, offers/renders professional real estate services on the following: (i) acquisition, enhancement, preservation, utilization or disposal of lands and including the improvements existing thereon; and (ii) the conceptualization, planning, management and development of real estate projects;

2. Real Estate Appraiser or Real Estate Valuer - a duly registered and licensed natural person, who for a professional fee, compensation or other valuable consideration, performs, renders, or offers to perform services, in the valuation of real estate and other related properties and its interest, and rendering therein his professional expertise in giving written valuation and report to the subject matter of his/her appraisal/valuation. 2.1 Private Sector Real Estate Appraiser - a Real Estate Appraiser/Valuer is a natural person who works in his/her private capacity and is not subject to or covered by Civil Service Rules and Regulations, Code of Conduct and Ethical Standards for Public Officials and Employees" and Anti-Graft and Corrupt Practices Act;

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Real Estate Assessor/Government Appraisers - a Real Estate Appraiser/Valuer is a natural person who works in a local government unit (LGU) and/or other government agencies or government owned or controlled corporations who performs appraisal/valuation and assessment of government-owned real properties and/or who perform appraisal and assessment of privately owned real properties as part of their official functions and they are subject and covered by Civil Service Rules and Regulations, Code of Conduct and Ethical Standards for Public Officials and Employees" and the Anti-Graft and Corrupt Practices Act;

3. Real Estate Broker - a duly registered and licensed natural person, who for a professional fee, commission or other valuable consideration, acts as an agent/attorney-in-fact of a party, in a real estate transaction. He/she offers, advertises, solicits, lists, promotes, mediates, negotiates or help in the meeting of the minds of the parties to a sale, purchase, exchange, mortgage, lease, joint venture, or other similar real estate transactions or any interest therein;

4. Accredited Real Estate Salesperson is one who performs real estate services for a valuable consideration or in expectation of a share in the professional fee or commission in the performance of his/her services. He/She is a duly accredited natural person who may or may not be listed by a Licensed Real Estate Broker, in order to be accredited by the Professional Regulation Commission (PRC). However, a real estate Salesperson must be listed by a Licensed Real estate broker before he/she can practice his/her profession as a Real Estate Salesperson.

Section 13. Sectoral Categories College of Fellows The College of Fellows, hereinafter referred to as the College is an institution within PhilRES which is composed of active Regular Members of the particular sector where they are Regular Members of. The different Sectoral Categories College of Fellows are: 1. 2. Real Estate Consultants College of Fellows; Real Estate Appraisers College of Fellows (Private Sector Real Estate Appraiser/Valuer and GOCC/LGU Sector Real Estate Assessor/Appraisers); Real Estate Brokers College of Fellows;

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Section 14. Purposes and Objectives of College of Fellows The purposes and objectives of the College of Fellows are: a. To act as a consultative body of the National Directorate and to study, research and formulate policies and programs which includes but is not limited to the Code of Ethics & Responsibilities and other concerns, issues and policies that

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affect their particular sector to be submitted for consideration of the National Directorate; b. To promote the interest and advancement of the real estate industry and profession and of PhilRES and to contribute to the promotion, enhancement programs and activities beneficial to the general membership; and To advance the interest of the real estate industry and of PhilRES and contribute to the programs and activities of the general membership.

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Section 15. Promotion as a Fellow A Regular Member may be promoted as Fellow upon such procedures as may be determined by the National Directorate. The following are the qualifications to be considered and promoted as a Fellow, to wit: a. All Founding Incorporators, Founding Members of the National Directorate, the Founding Officers and the Members of the different Committees and all Charter Members of PhilRES are automatically members of the College of Fellows of the particular sector where they are Regular Members of. Any Regular Member of PhilRES may be nominated into the applicable Sectoral Category of the College of Fellows. Provided the member nominee must have been a member in good standing consistently and continuously with the PhilRES and he/she must have consistently paid his membership dues on time at least last five (5) years prior to the time of his nomination. The grant, conferment and use of such title of distinction and honorary conferment of title shall be in accordance with the evaluation and procedures set forth and as may be deemed proper by the National Directorate and conferred in a formal investiture ceremony. Conferment of such title shall be made only after the formal confirmation of such award by the Membership Committee and upon recommendation and approval of such honorary title by the National Directorate. The member awardee shall be then formally accepted and inducted as a Fellow during a formal awarding ceremony conferring such title of Fellow in his particular Sectoral Category. Arrears in the payment of the annual membership dues for the five (5) year period requirement is a bar and will disqualify the nominee to the award. Payment of the annual membership dues shall be certified by the Treasurer and the Secretary General.

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Section 16. Governing Body of the College of Fellows The College shall vote for a set of Officers consisting of the Executive Director, Vice Executive Director, Secretary, and Finance Officer. They shall administer the affairs and projects of the

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College of Fellows during the time of their tenure of office, taking in consideration as guide the Implementing Rules and Regulations of the College of Fellows

Section 17. Implementing Rules and Regulations of the College of Fellows The College of Fellows shall adopt an Implementing Rules and Regulations in order to assist the officers in the accomplishment of the task assigned to them, taking into consideration all the best and possible undertakings for which it was intended and designed. The policies, activities and Implementing Rules and Regulations of the College of Fellows shall be subject to the approval of the National Directorate before implementation. The same shall not be contrary to the policies of the National Directorate and of PhilRES By Laws.

Section 18. Honorary Membership into the College of Fellows 1. Honorary Membership of any Sectoral College of Fellows may be conferred upon any local national or foreign national whether a real estate service practitioner or practicing in a kindred trade or activity. The prospective honorary awardee must possess high standards of moral integrity and must have exceptionally contributed to the advancement of the real estate service profession of the sector the nominee is being nominated into. 2. The prospective honorary awardee must be nominated by at least thirty (30) members of the College of Fellows in good standing. Said nomination shall be approved by the National Directorate and the College of Fellows of the sectoral category where the honorary prospective awardee was nominated into. An Honorary Member of the College of Fellows enjoys the right and privilege to be present in the functions and activities of PhilRES. Being an Honorary Member of the College of Fellows does not entitle the holder to practice the real estate service profession unless allowed under RA 9646 and other related laws in the Philippines.

3.

4.

Section 19. Requirements for Membership Admission to PhilRES Regular Membership into PhilRES shall be automatic and mandatory for all licensed real estate service practitioners whose names are verified to be true and appear in the Roster of Real Estate Service Practitioners Registry of the Professional Regulation Commission (PRC). Associate Membership into PhilRES shall be automatic and mandatory for all Accredited Salespersons whose names and accreditation as Salespersons are verified to be true and pursuant to the provisions of Section 34 Article IV of R.A. 9646, and its Implementing Rules and Regulations and whose application for Associate Membership into PhilRES is accompanied by a notarized certification of conferment of accreditation, guaranty and warranty licensed and principal real estate broker whom the Salespersons are accredited with. All foreign nationals granted permits to operate as real estate service practitioners or given a certificate of registration or a professional identification card pursuant to the provisions of
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Section 24 Article III of RA 9646 shall be automatic bona fide members of PhilRES and must submit and comply with the prescribed additional requirements to be a member in good standing in order to enjoy and receive the benefits and privileges that only a member in good standing shall have the privilege and right to exercise as applicable. All real estate service practitioners with verified eligible qualifications shall automatically become bona fide members of PhilRES. All New Members must submit and comply with the following additional requirements hereunder enumerated, to wit: 1. He/She must present the original copy of the real estate practitioner's license I.D. and certificate issued by the Professional Regulatory Board of Real Estate Service for authentication and comparison to the photocopy presented together with his application. This is in pursuance to the provisions of Section 3(g) Article I, Section 20, Article III and Section 30, Article IV of RA 9646;

2.

He/She must be a member of a PhilRES Local Chapter. Every Regular member shall be a member of a Local Chapter of his choice, provided that his/her application into the Local Chapter of his choice must accept and approves his/her membership application.

3.

He/She may join one or more Local Chapter. Provided, that said member pays all his/her Membership Dues and Assessments to every Local Chapter that he is a member. Provided further that the said member submits a declaration of the Local Chapter of His/Her Choice to the Local Chapter Secretary;

4.

He/She must sign a waiver under oath authorizing PhilRES or its duly authorized representative to verify all information contained in his application for membership and including datas and information as appearing in his/her Members Information Record;

5.

He/She must indicate the complete residential address as certified to by the Barangay Captain/Barangay Clearance issued by the Barangay Captain where he/she resides and his/her office/business address in his application for membership pursuant to Section 22 Rule III of the RESA IRR;

6.

He/She shall swear to the Pledge for Members and to the National Code of Ethics and Responsibilities, as approved and adopted by the PRBRES and the PRC prior to his/her formal investiture into PhilRES in solemn proceedings specifically set for the purpose;

7.

He/She shall accomplish one (1) Members Information Record for every sectoral category where he/she belongs. Any other member shall simply correct/update his membership data form with PhilRES in conformity with any additional or loss of eligibility to perform any category of real estate service or type of
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membership. 8. All registered and licensed real estate service practitioners as well as accredited salespersons whose names appear in the Roster of Real Estate Service Practitioners Registry of the Professional Regulation Commission (PRC) pursuant to the provisions of Section 34 Article IV of R.A. 9646, and its Implementing Rules and Regulations shall continue to be bona fide members of PhilRES except in the following manner, to wit: 8a. 8b. Members who are deceased; and, Members whose memberships are terminated pursuant to the provisions of these By-Laws.

9.

Associate Members may only apply as a member of the Local Chapter of Choice where his/her principal broker is a Regular Member of and that the Associate Member applicant shall have fully complied with the provisions of these By-Laws.

Section 20. Local Chapter Organization and Membership Requirements Local Chapters shall be organized in accordance with the following: 1. The National Directorate shall prescribe a uniform set of Articles of Incorporation and By-Laws and rules governing the formation, incorporation, administration and operation of Local Chapters which shall not be inconsistent with the Articles of Incorporation and By-Laws of PhilRES. Exceptions or modifications of the rules and provisions of the By-Laws for specific Local Chapter shall not be allowed unless otherwise approved by the National Directorate for reasons that it may deem meritorious;

2.

No act of a Local Chapter shall directly or indirectly nullify or contravene any provisions of these By-Laws and such rules, regulations, plans, programs or activity adopted and sanctioned by the National Directorate;

3.

All Local Chapters shall be under the general supervision of their respective Regional Vice Presidents as provided in these By-Laws;

4.

The Regional Area Jurisdiction and Local Chapter jurisdiction shall be based on its geographical and political boundaries as defined in Section 79(2) Article XIII, and Sections 80-85 Article XIII of these By-Laws;

5.

The applicant for a Local Chapter must have a minimum number of Fifteen (15) Members who are duly licensed Real Estate Service Practitioners exclusive of the
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number of accredited salesperson associate members and such other requirements as may be determined as necessary by the National Directorate as recommended by the Chapter Development & Chapter Affairs Committee and/or Membership Committee:

6.

The organizers of a Local Chapter shall formally communicate its intent to the National Directorate to set-up a New Local Chapter enclosing therewith the following minimum requirements: 6.1 Unconditional commitment by the petitioners to fully adopt the prescribed standard and uniform Articles of Incorporation and By-Laws approved by the National Directorate for all Local Chapters under PhilRES with no exceptions or additions thereto; Duly accomplished and filled-up proposed new Members Information Record of the proposed Local Chapter together with photocopies of their valid Certificate of Registration and Professional Identification Card, among others.

6.2

The application for a proposed Local Chapter shall be accepted or denied by the National Directorate upon the joint recommendations of the (a) Chapter Development and Chapter Affairs Committee, and (b) Membership Committee;

7.

An applicant for Local Chapter organization shall be circularized within the period of fifteen (15) days together with its proposed members upon payment of the required chapter organization application fee, payment of the required chapter membership processing fee, payment of the required Annual Chapter dues, and the payment of required membership fees of its individual members;

8.

Once an application for a Local Chapter organization is approved, the recommendation and its approval shall be accompanied by the prescribed standard and uniform Articles of Incorporation and By-Laws approved by the National Directorate for all Local Chapters under PhilRES;

9.

No Local Chapter shall be registered with the Securities and Exchange Commission (SEC) affixing the national association name as a prefix herein referred to as PhilRES- unless its chartering shall have been duly approved by the National Directorate;

10.

The New Local Chapter shall be formally presented, proclaimed and accepted during formal investiture proceedings, and PhilRES will formally present and induct its officers and members during PhilRES Annual General membership Meeting and Elections;

11.

All New Local Chapter Members shall be circularized to all members by the Membership Committee within thirty (20) calendar from receipt of the filing of their complete application for membership into PhilRES.

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Only applications for membership that fully complies with all the requirements for membership application shall be accepted for processing.

12.

PhilRES shall exercise full right, option and discretion to approve, reject, consolidate and/or merge applications to form chapters or intents to form chapters.

Section 21. Minimum Membership Residency Requirement Rule a) Regular Members may become a member of any or all of the different sectoral categories of licensed real estate service practitioners, provided that, the member is a duly licensed real estate service practitioner of such category and that the applicant fully complies with the provisions of these By-Laws. b) A Local Chapter Regular Member can only be nominated, voted or, appointed to represent his/her real estate category if the Regular member has the required twelve (12) months continuous minimum membership residency requirement in good standing in that particular real estate category, and as proof compliance the Regular Member must show at least two (2) consecutive membership dues payment receipts of his Mother Chapter dated not later than March 15 of any given year or as evidenced by the membership records issued in his/her name in the category where he/her belongs to. c) A Local Chapter Associate Member can only be qualified and selected as a representative of his/her sector only when the Associate Member has the required twelve (12) months continuous minimum membership residency requirement in good standing in that particular real estate service category, and as proof compliance the Regular Member must show at least two (2) consecutive membership dues payment receipts of his Local Chapter of Choice dated not later than March 15 of any given year or as evidenced by the membership records issued in hi/her s name in the category where he/she belongs to. d) Regular Members in Good Standing who are prior members of other Local Chapters: (1) who transfer to, or (2) who become members of newly formed Local Chapters, are subject to the twelve (12) months continuous minimum residency rule in the Local Chapter of Choice where they are new members of, except those Regular Members that are admitted as new members during the effectivity of the Transitory Provisions of these New By Laws as adopted on 13 July 2011.

Section 22. Resignation from Membership Any member may resign from membership from any category at any time in PhilRES through a written notice submitted to the Secretary General provided that such resignation shall not be effected and binding upon PhilRES until acted upon by the National Directorate even though the effective date of resignation is fixed in said notice by said resigning member. The National Directorate shall act upon such notice of resignation within thirty (30) calendar days from receipt of said notice.

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Upon approval of such resignation from membership, the Secretary General shall immediately bring the matter to the attention of the PRC through the PRBRES. Forthwith the member concerned shall cease to be a member of PhilRES and his name shall be stricken out from the Official Roster of Registered and Licensed Real Estate Practitioners maintained by the PhilRES and by the PRC from the Roster of Real Estate Service Practitioners Registry of the Professional Regulation Commission (PRC).. Notwithstanding any other provision in these By-Laws, a member against whom a charge of violating the laws and regulations is pending may not resign or be terminated from membership until final judgment is rendered. Any individual who resigns loses all rights and privileges granted by law or these By-Laws, including the right to use the organization's name, initials or symbols until otherwise reinstated. A member who has resigned shall be given a clearance only after paying all his/her financial obligations with PhilRES and his/her Local Chapter as evidenced by a Certification of No Financial Accountability from the Treasurer.

Section 23. Forfeiture of Membership and Forfeiture of Membership Privileges a) A member, shall upon hi/her s final conviction of a crime of moral turpitude or any other offence punishable by at least six (6) months imprisonment, shall automatically lose and forfeit all his Memberships in all categories and forfeit all his Membership Privileges as well with PhilRES. b) A member, upon due notice and hearing, may only be censured, suspended or removed and forfeit any or all of his Membership Privileges with PhilRES in the particular category where he/she was charged in, after all avenues of appeal with the Professional Regulatory Commission pursuant to any and all applicable laws related thereto have been exhausted. c) A member who has resigned, or who has been censured, suspended or removed shall be given a clearance only after paying all his/her financial obligations with PhilRES and his/her Local Chapter as evidenced by a Certification of No Financial Accountability from the Treasurer.

ARTICLE V. FEES and DUES Section 24. Payment of Membership Fees An initial membership fee of Php 500.00 shall be assessed as Annual Regular Membership dues to be initially collected from the Regular Members due to PhilRES, the recognized AIPO. While, an initial membership fee of Php 300.00 shall be assessed as Annual Associate Membership dues to be initially collected from the Associate Members due to PhilRES, the recognized AIPO. All Membership dues and fees payable to PhilRES-National of whatever nature shall be only paid thru the members Local Chapter and these fees and assessments in turn shall be remitted to
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PhilRES-National for the account of the paying member by hi/her s Local Chapter not later than fifteen (15) days upon receipt of such payments. The National Directorate may allow direct payments by members of other fees and assessments to PhilRES-National.

Membership Application Fees and Processing Fees for New Individual Members and New Local Chapter Members The National Directorate shall determine the appropriate and reasonable fees and any other assessments to be collected from its members and may at any time modify or increase the fees it deems appropriate and reasonable upon consultation with the Professional Regulation Commission (PRC) thru the Professional Regulatory Board of Real Estate Service (PRBRES). a) The payment of the one-time membership application fee and one-time membership processing fee shall be paid upon submission of all Individual Membership applications. b) The payment of the one-time Chapter Organization Application fee and one-time Chapter Membership processing fee shall be paid upon submission of all Chapter Organization applications.

Section 25.

Section 26. Regular Annual Membership Dues The National Directorate shall determine the appropriate and reasonable Regular Annual Membership Dues and any other assessments to be collected from its members and may at any time modify or increase the fees it deems appropriate and reasonable. Initially, a membership fee of Php 500.00 shall be initially assessed as by way of Annual Regular Membership dues to be initially collected from the Regular Members and an initial membership fee of Php 300.00 shall be initially assessed as by way of Annual Associate Membership dues to be initially collected from the Associate Members due to PhilRES, the recognized AIPO. a) All individual members are obligated to pay PhilRES-National Annual Membership Dues and Local Chapter Annual Membership Dues and any other reasonable assessments he/she belongs to on time; b) All local chapters are obligated to pay Annual Chapter Dues and any other reasonable assessments on time; c) PhilRES-National Individual Annual Membership dues and any other reasonable assessments for any calendar year are payable not later than the 15th of March of every year; d) Local Chapter Annual Individual Membership dues and any other reasonable assessments for any calendar year are payable not later than the 15th of March of every year; e) Each Local Chapter must pay its Annual Chapter dues and any other reasonable assessments to PhilRES-National for any calendar not later than the 15th of March of every year;

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f) An individual member or Local Chapter whose membership has been forfeited or suspended shall still be required to pay his/her or its membership dues for the current year, thereafter the said member need not pay his/her or its membership dues until after the lifting of his/her or its suspension or after he/she or it has been re-admitted into PhilRES; g) No member or Local Chapter shall be refused acceptance of the payment of his/her or its membership dues after serving his his/her or its suspension from PhilRES or after having been readmitted into PhilRES; h) A member who has resigned or who has been removed or suspended shall be given a clearance only after paying all his/her or its financial obligations with PhilRES as evidenced by a Certification of No Financial Accountability from the Treasurer; i) Unpaid Annual Membership Dues shall be charged a ten percent (10%) surcharge for every year or fraction thereof; j) A member must pay all past due unpaid membership dues and all past due unpaid fees and assessments inclusive of surcharges together with the membership dues for the current year to update his/her or its membership standing with PhilRES; k) A member who fails to pay his/her or its membership dues for two (2) consecutive years shall be automatically suspended indefinitely from PhilRES. The indefinite suspension shall take effect ten (10) calendar days from date of receipt by the member concerned of Notice of Suspension of Membership Privileges Due to Non-Payment of Membership Dues. Notification by registered mail sent to the concerned members registered residential address on file with PhilRES shall constitute proper notification and receipt of such Notice of Suspension of Membership Privileges Due to Non-Payment of Membership Dues. The National Committee on Membership shall by resolution recommend among others to the National Directorate to recommend to the Professional Regulation Commission (PRC) through the PRBRES the possible suspension of the delinquent member from the practice of his/her real estate service profession for non-renewal of his/her membership with Phil-RES; l) A local chapter that fails to remit membership dues on time shall be automatically referred to the Membership Committee and Chapter Development & Chapter Affairs Committee which shall in turn conduct due notification and hearing to require the delinquent local chapter member to show cause why the said local chapter should not be suspended together with its entire membership from PhilRES. Thereafter, the Membership Committee and Chapter Development & Chapter Affairs Committee shall jointly make its recommendations to the National Directorate for proper action and disposition; m) The amount of Annual Individual Membership Dues and Annual Chapter Dues to be paid by Individual Members and Local Chapters may be increased by the National Directorate at anytime subject to the ratification and approval by a simple majority of regular members in good standing during a special meeting specifically held for that purpose without need to amend these By-Laws.

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Any increase in Membership Dues shall be subject to final approval by the Professional Regulation Commission (PRC) upon recommendation by the Professional Regulatory Board of Real Estate Service (PRBRES) before being implemented.

Section 27. Special Contributions and Assessments Special contributions and/or assessments necessary to finance a special project or undertaking of PhilRES may be collected from the members by authority of a resolution duly approved by the National Directorate and subsequently approved by a simple majority of the general membership in good standing in a Special General Membership Meeting called for that particular purpose. All funds for that special project or undertaking shall be kept in a separate bank account specifically created for the purpose.

ARTICLE VI. ACCEPTANCE FOR MEMBERSHIP, CHARGING, OATHTAKING & BADGING OF ENSIGNS Section 28. Acceptance for Membership No New Member shall be accepted as a Member in good standing unless the local chapter membership circularization requirements had been completely complied with.

Section 29. Charging and Oath Taking of Members All new members who have completely complied with the membership requirements shall be officially charged and administered his/her Membership Oath as Member in Good Standing of PhilRES.

Section 30. Badging of the PhilRES Ensigns/Pin After the Oath Taking, the accepted member shall be badged with PhilRES ensigns/pin either by the Sponsor(s) or any PhilRES Officer.

ARTICLE VII. CERTIFICATE of MEMBERSHIP & MEMBERSHIP IN GOOD STANDING Section 31. Issuance of Certificate of Membership in Good Standing Each member in good standing shall receive a Certificate of Membership in Good Standing issued by PhilRES duly certified to and signed by the Secretary General, Treasurer, Membership Committee Chairperson and attested by the President upon: (a) Presentation of proof on the renewal of the professional identification cards;

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(b) Full payment of his/her annual dues not later than the 15th of March of every year; (c) Issuance of a Certification of No Financial Accountability with PhilRES Treasurer; (d) Has complied with the minimum residency requirement provisions of this New By Laws as adopted on 13 July 2011; and (e) Certification of the Local Chapter that he/she is a member in good standing thereof.

Section 32. Permanent Property of PhilRES Membership certificates, emblems or other evidences of membership issued at any time to the member is the permanent property of PhilRES and shall be returned by the individual member upon termination of his/her membership with PhilRES for any reason after due notice and hearing except by death.

Section 33. Return of PhilRES Property Any member who resigns or is expelled shall immediately return his certificate, emblems, pin, seal and other marks of identity as a member of PhilRES. Failure to return thereof upon demand made by the President or by the Membership Committee, the National Directorate may undertake necessary action to prevent the use and recovery the same or may cause notice of the member resignation, suspension or expulsion publicity through newspaper publication or other media announcements.

Section 34. Content of Certificate of Membership In Good Standing. The Certificate of Membership in Good standing shall state the following information: a) b) c) d) e) f) g) h) i) Name and the Professional License Number of the Member; Members compliance of the Membership in Good Standing requirements; Law and/or regulation as basis of the issuance thereof; The validity of the Certification granted; Receipt number and date when such fees were paid; Authorized signatories; Certificate Control Number; and Seal of the PhilRES. Any other information that the National Directorate may deem fit and proper as declared in a board resolution for the specific purpose.

ARTICLE VIII. RECOGNITION PROTOCOL, MEMBERS RIGHTS, PRIVILEGES, DUTIES AND RESPONSIBILITIES Section 35. Members Rights and Privileges 1. Rights and Privileges of Founding Members a) Any and all Founding Members present at any meeting or activity of PhilRES shall be duly acknowledged and given due recognition prior to the acknowledgement and
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recognition of all other special guests, dignitaries, Officers, Trustees and other members of PhilRES; b) Any and all Founding Members present at any meeting or activity of PhilRES shall have preferential treatment to be seated nearest to the presidential table at all times; c) There shall be a separate registration folder and/or registration list for all Founding Members present at any meeting or activity of PhilRES.

2. Rights and Privileges of Charter Members a) Any and all Charter Members present at any meeting or activity of PhilRES shall be duly acknowledged and given due recognition after any and all Founding Members present at any meeting or activity of PhilRES shall have been duly acknowledged and given due recognition; b) Charter Members present at any meeting or activity of PhilRES shall be duly acknowledged and given due recognition prior to the acknowledgement and recognition of all other members, special guests, dignitaries, Officers, Trustees and other members of PhilRES; c) There shall be a separate registration folder and/or registration list for all Charter Members present at any meeting or activity of PhilRES.

3. Regular Members in Good Standing have the following rights: a) To participate and to know all activities and affairs of PhilRES; b) To exercise the right to vote on all matters relating to the affairs of PhilRES (subject to the provisions of residency requirements as applicable) as required; c) To enjoy the facilities, benefits and other entitlements of PhilRES attached to the membership; d) To be included in the Roster of Real Estate Service Practitioners to be submitted to the Professional Regulatory Board of the Real Estate Service; e) To inspect the records or books of PhilRES during business hours; f) To vote and be voted upon during PhilRES elections subject to the provisions of residency requirements and other requirements as applicable; g) To be entitled to any privileges if appropriate, such as but not limited to availing of discounts during Seminars/Trainings, to receive honorarium if he/she has rendered services as Resources Speaker/Reviewer and the Secretariat; h) To be endorsed in schools, colleges and universities to teach subjects that requires the expertise of licensed Real Estate Service practitioners; and
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i) To be endorsed as Commissioner in Court, nominee to the professional regulatory board, resident Real Estate Service Practitioner and/or Retainer of Project Developers, and the like if warranted. j) To be appointed as members of committees at all levels of the PhilRES; k) To serve as Chapter delegates to national and local PhilRES conventions, conferences and , conferences and international conferences and fora; l) Subscribe to all publications and documents issued by the PhilRES for information, assistance and guidance of its members; m) No Membership privilege/s may be withheld, removed, restricted or otherwise denied any member without the appropriate National Directorate Board Resolution approving such specific action upon any member.

4. Rights of Members Who Are Not Members in Good Standing. Members who are not in good standing shall enjoy only the following rights; a) To be included in the list of bona fide members roll of PhilRES; b) To continue to receive communications from PhilRES c) To attend any meeting of PhilRES and attend conferences as a passive observer upon payment of the appropriate assessments or fees at the same rate paid by members in good standing, but, the member can not vote, nor be voted upon, receive or give proxy/ies, nor propound questions, nor be part of the consideration of the quorum, nor make any motion.

5. Rights of Associate Members Who Are Members in Good Standing. Associate Members in good standing shall enjoy only the following rights; a) To participate and to know all activities and affairs of PhilRES; b) To enjoy the facilities, benefits and other entitlements of PhilRES attached to the membership; c) To be included in the Roster of Real Estate Service Practitioners to be submitted to the Professional Regulatory Board of the Real Estate Service; d) To be entitled to any privileges if appropriate, such as but not limited to availing of discounts during Seminars/Trainings and any other authorized and/or sanctioned activity of PhilRES except those which expressly only allows Regular members to participate in; e) To be appointed as members of committees at all levels of the PhilRES, subject to the limitations upon such Associate members thereof; f) To be included in the list of Associate Member nominees;
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g) To serve as Chapter delegates to national and local PhilRES conventions, conferences and international conferences and fora; h) Subscribe to all publications and documents issued by the PhilRES for information, assistance and guidance of its members. i) To be selected as a non-voting Associate Member nominee representative to the Associate Members Pool of Nominees from which the National Trustees-Elect shall choose the Associate Member representative to the National Directorate as selected by the Associate Members in Good Standing of the Local Chapter from among themselves by secret ballot. No Membership privilege/s may be withheld, removed, restricted or otherwise denied any Associate Member without the appropriate National Directorate Board Resolution approving such specific action upon any member.

6. Associate Members Do Not Have The Following Rights a) To exercise the right to vote on all matters relating to the affairs of PhilRES except as expressly allowed and provided herein By Laws; b) To inspect the records or books of PhilRES during business hours; c) To vote for Regular Members during PhilRES elections; d) To be endorsed in schools, colleges and universities to teach subjects; e) To be endorsed as Commissioner in Court; f) To be a nominee to the professional regulatory board; g) To give and receive proxies to and from Regular Members.

Section 36. Inclusion in the Roster of the Real Estate Service Practitioners All Members In Good Standing shall be included in the Roster of Real Estate Service Practitioners to be submitted to the Professional Regulatory Board of the Real Estate Service (PRBRES) as required by Section 22, Article III of R. A. 9646, and its Implementing Rules and Regulations and/or appropriate government agencies within fifteen (15) days after the end of the calendar year or such other date required by order or memorandum or resolution of the Professional Regulation Commission (PRC) to be prepared by the Membership Committee.

Section 37. Duties and Responsibilities of All Members A member shall have the following duties and responsibilities: 1. To read, comply and abide by the By Laws of PhilRES;

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2. To obey and comply with PhilRES By-Laws, policies and procedures and any rules that maybe promulgated; 3. To observe compliance to the provisions of the Real Estate Service Act (R. A. 9646), its Implementing Rules and Regulations and any other existing realty laws that maybe promulgated by the proper authorities; 5. To attend all required meetings that may be called by the National Directorate and by the Committee Chairmen; 6. To pay annual membership dues and other fees and assessments of PhilRES on time; 7. To observe and faithfully abide by and comply with the National Code of Ethics and Responsibilities; 8. To be an active member of the Local Chapter and to the sectoral College of Fellows he belongs to as applicable; 9. To have the moral obligation to serve as Officer, Director, Committee Chairperson and Committee Member as applicable; 10. To support all the activities of PhilRES including attendance to organize trainings, seminars, workshops, forum, conventions and conferences and its advocacy against pernicious real estate services practices of unlicensed or unauthorized individuals and juridical persons; 11. To provide free services to PhilRES if called for; 12. To pay the agreed royalty fees to PhilRES on referrals at all times without need for demand; 13. To observe the approved tariff of professional fees of real estate service; 14. To report immediately any act of wrong doing by any member or staff or employee of PhilRES that he/she has personal knowledge of or has witnessed; 15. To always act in a generally, morally, legally and socially accepted norms of conduct and behaviour and must not be a cause for public scandal; and 16. Not to do any act(s) which are in competition and/or, prejudicial and/or inimical to PhilRES', PhilRES' officers, trustees, staff and/or employees, any of PhilRES' plans programs, undertakings and/or public image and/or reputation.

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ARTICLE IX. NATIONAL BOARD OF TRUSTEES (National Directorate) Section 38. General Management and Governing Policy Making Body The general management and governing policy making body of PhilRES shall be vested in a National Board of Trustees which shall be known collectively as the National Directorate composed of Twenty-One (21) Trustees who shall be elected annually by all Regular Members in Good Standing who shall serve and perform their duties and responsibilities from January 01 until December 31 of every year until the qualification and election of their successors. The Chairman of the National Directorate shall preside over proceedings at all regular and special meetings of the National Directorate except at Special General Membership Meetings and the Annual General Membership Meeting and Elections where the President shall preside. The National Directorate shall retain the services of a legal counsel whose services are necessary to assist and help PhilRES in the implementation/administration of its official duties and functions and will be officially designated as the Board Legal Counsel.

Section 39. Quorum The National Directorate acts only as a collective body and no power is vested in any individual Trustee as such. The presence of at least Twelve (12) members of the National Directorate shall be necessary at all regular and special meetings of the National Directorate to constitute a quorum for the transaction of any business, and simple majority (50% plus 1) of the quorum duly assembled as a National Directorate shall be valid as a corporate act. The Chairman of the National Directorate shall preside at all meetings of the National Directorate of PhilRES except at Special General Membership Meetings and Annual General Membership Meeting and Elections where the President of PhilRES shall preside. In the absence of the duly elected Chairman of the National Directorate during any meeting the Vice-Chairman shall preside thereof. In the absence of the Chairman and the Vice-Chairman of the National Directorate during any meeting where there exists a quorum, the Trustees constituting such a quorum shall appoint a temporary presiding Trustee for such particular meeting. The presiding Trustee only votes in order to break a deadlock or tie in National Directorate voting or in any meeting wherein a division of the house results in a tie.

Section 40. Regular and Special Meetings of the National Directorate The National Directorate shall hold Regular Meetings at least once a month, at such particular hour or place as the National Directorate may set.

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Special Meetings of the National Directorate may be called by the Chairman of the National Directorate or President at his discretion or by written request by Twelve (12) members of the National Directorate.

Section 41. Notice of Meeting Notices of Regular Meetings of the National Directorate or Special Meetings of the National Directorate shall be mailed, e-mailed, faxed or sent by special courier or messengerial service or any other verifiable means of communication by the Secretary General at least four (4) days before the date fixed for the meeting.

Section 42. Waiver of Notice of Meeting Notices of Regular Meetings or Special Meetings of the National Directorate may be waived only in formal writing provided that those National Trustees waiving such notice of meeting are part of a valid quorum of such meeting and/or are those National Trustees requesting for such Special Meeting of the National Directorate or Emergency Meeting of the National Directorate.

Section 43. Regular Attendance in National Directorate Meetings Officers and Trustees are mandated to attend all National Directorate Meetings. Unauthorized absence from three (3) regular meetings, consecutive or otherwise shall be considered as constructive resignation on the part of the absentee Officer or Trustee unless prior notice of a reasonable cause for such absence is received by the Secretary General at least three (3) calendar days before such scheduled regular meeting of the National Directorate.

Section 44. Rules of Order Roberts Rules of Order, latest edition, shall be recognized as the authority and guide governing the parliamentary proceedings of the meetings of PhilRES as well as those of its committees, provided that the same is not in conflict with any provision of these By-Laws.

ARTICLE X. NATIONAL OFFICERS & NATIONAL TRUSTEES Section 45. General The Members of the National Directorate of PhilRES shall perform and function in their duties and responsibilities as any regularly Members of the National Directorate would normally operate as permitted under the Corporation Code of the Philippines. The regularly elected Members of the National Directorate of Phi1RES shall occupy and perform their duties and responsibilities from January 01 until December 31 of every calendar year unless expressly provided for in this By-Laws. These National Directorate and Officers of PhilRES shall perform their duties and responsibilities customary to the offices unless otherwise specifically specified in these ByLaws.
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These National Directorate shall occupy and shall continue to perform and act on matters customary to their office which are consistent with the Corporation Code of the Philippines, unless expressly provided for in these By-Laws. A Manual of Operations will be drawn-up by the National Directorate and approved by a simple majority of all members in good standing.

Section 46. Chairman of the National Directorate The Chairman of the National Directorate who shall be a Trustee, shall preside at all meetings of the National Directorate of PhilRES except at (1) Special Membership Meetings and Elections, and (2) Annual General Membership Meeting and Elections where the President shall preside. The Chairman of the National Directorate only votes in order to break a deadlock or tie in National Directorate voting or in cases wherein a division of the house results in a tie.

Section 47. Vice Chairman of the Board The Vice Chairman of the National Directorate, who shall be a Trustee, shall perform all duties as customary to his office. He shall: a) shall preside at all meetings of the National Directorate of PhilRES whenever the Chairman of the National Directorate shall be unable to preside at any and all meetings of the National Directorate; b) represent PhilRES and act in its name subject when so specifically ordered to do so or assigned to him by the National Directorate; c) do and perform any and all other duties, functions and responsibilities assigned to him/her by the National Directorate.

Section 48. President The President, who shall be a Trustee, shall perform all duties as customary to his office. He shall: a) be the Chief Executive Officer of PhilRES; b) preside at all Special Membership Meetings and at the Annual General Membership Meeting and Elections; c) represent PhilRES in all internal and external functions and act in its name subject to the declared policies of the National Directorate and the provisions of these By-Laws; d) countersign all checks for disbursements of funds of PhilRES; e) submit an annual report to the members; f) shall be an ex-oficio member of all committees.

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Section 49. Executive Vice President The Executive Vice President, who shall be a Trustee, shall perform all duties as customary to his office. He shall: a) assist the President of PhilRES in all matters; b) take-over the duties and responsibilities in the temporary absence of the President; c) represent PhilRES and act in its name subject to the declared policies of the National Directorate and the provisions of these By-Laws in the temporary absence of the President; The Executive Vice President shall have the powers, authorities, duties, functions and responsibilities assigned and duties the President or National Directorate may from time to time assign to him.

Section 50. Vice President for Consultants There shall be a Vice President for Consultants who shall he a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be responsible for the compliance of the disciplines requirement that may be later on implemented upon the direction of the Professional Regulatory Board for Real Estate Service (PRBRES); b) Update the membership committee on information needed within the rank; c) Be the National focal person of the licensed Real Estate Consultants. The Vice President for Consultants shall have the powers, authorities, duties, functions and responsibilities assigned and duties the National President or National Directorate may from time to time assign to him.

Section 51. Vice President for Appraisers There shall be a Vice President for Appraisers who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be responsible for the compliance of the disciplines requirement that may be later on implemented upon the direction of the Professional Regulatory Board for Real Estate Service (PRBRES); b) Update the membership committee on information needed within the rank; c) Be the National focal person of the licensed Real Estate Appraisers. The Vice President for Appraisers shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him.

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Section 52. Vice President for Brokers There shall be a Vice President for Brokers who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be responsible for the compliance of the disciplines requirement that may be later on implemented upon the direction of the Professional Regulatory Board for Real Estate Service (PRBRES); b) Update the membership committee on information needed within the rank; c) Be the National focal person of the licensed Real Estate Brokers. The Vice President for Brokers shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him.

Section 53. Vice President for Government Assessors There shall be a Vice President for Government Assessors who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be responsible for the compliance of the disciplines requirement that may be later on implemented upon the direction of the Professional Regulatory Board for Real Estate Service (PRBRES); b) Update the membership committee on information needed within the rank; c) Be the focal person of the licensed Real Estate Assessors. The Vice President for Government Assessors shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him.

Section 54. Vice President for Government Appraisers There shall be a Vice President for Government Appraisers who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be responsible for the compliance of the disciplines requirement that may be later on implemented upon the direction of the Professional Regulatory Board for Real Estate Service (PRBRES); b) Update the membership committee on information needed within the rank; c) Be the National focal person of the licensed Government Real Estate Appraisers. The Vice President for Government Appraisers shall have the powers, authorities, duties, functions and responsibilities the National President or the National Directorate may from time to time assign to him.

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Section 55. Vice President for Treasury There shall be a Vice President for Treasury who shall be a Trustee, and who shall perform all duties as customary to his office. He shall: a) Be the Treasurer and have custody of and be responsible for the funds, securities and bonds of PhilRES, and keep a complete and accurate record of receipts and disbursements of PhilRES, and other commercial transactions in the corresponding books of account of PhilRES and see to it that all disbursements and expenditures are evidenced by appropriate vouchers; b) Deposit in the name and to the credit of Phi1RES in such bank or banks as may be designated from time to time by the National Directorate, all the money, funds, securities, bonds, negotiable instruments, bank drafts and similar valuable effects belonging to PhilRES which may come under his control; c) Render a monthly and an annual report showing the financial condition of PhilRES. He shall render an annual report after the end of each calendar year and such other financial reports as the National Directorate or the President may from time to time require; d) Receive and give receipts for all moneys or properties paid or donated to PhilRES from any source whatsoever, and generally to perform such other duties as may he required by law or prescribed by the National Directorate. e) The Treasurer may delegate as may be necessary the routine duties of his office to one or more employees or officer or Trustee of PhilRES upon the approval of the National Directorate. f. The Treasurer shall have the powers, authorities and perform such other duties as the National Directorate may from time to time assign to him. g. The Treasurer shall jointly with the Secretary General submit a certified list of Members in Good Standing to the Comelec prior to the holding of any elections. The Vice President & Treasurer shall have the powers, authorities, duties, functions and responsibilities the National Directorate may from time to time assign to him.

Section 56. Vice President for Membership There shall be a Vice President for Membership who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be the Presiding Officer of the Membership Committee; b) Update the National Directorate on the membership status; c) Organize, monitor and coordinate with the Vice President for Chapter Development & Chapter Affairs nationwide.

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The Vice President for Membership shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Vice President for Chapter Development & Chapter Affairs There shall be a Vice President for Chapter Development & Chapter Affairs who shall be a Trustee, and shall perform all duties as customary to his office. In addition he/she shall: a) Be the Presiding Officer of the Chapter Development & Chapter Affairs Committee; b) Update the National Directorate on the status of chapter organizations & chapter affairs; d) Organize, monitor and coordinate with the Vice President for Membership on the developments and status of Local Chapters nationwide; e) Coordinate with the respective Regional Vice Presidents on the status of chapter organization, chapter affairs and their respective plans and programs with those of PhilRES-National. The Vice President for Chapter Development & Chapter Affairs shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 57.

Section 58. Regional Vice-Presidents There shall be six (6) Regional Vice-Presidents who shall be all Trustees and who shall be elected from the Local Chapter Past Presidents who are Members in Good Standing of the Local Chapter of the following the regional area jurisdictions NCR1, NCR2, North Luzon, South Luzon, Visayas, and Mindanao. The Regional Vice Presidents function is to coordinate their Regions activities, plans and programs and other matters with the PhilRES-National thru the Vice President for Chapter Development & Chapter Affairs. The Regional Vice-Presidents shall have the powers, authorities, duties, functions and responsibilities the National Directorate may from time to time assign to them.

Section 59. Vice President for Administration There shall be a Vice President for Administration who shall be a Trustee and who shall perform all duties as customary to his office. In addition he/she shall: a) Be under the over-all operational and management supervision of the Secretary General in running the National Secretariat Office; b) Responsible for the Administrative organization of the association and the hiring of the employees and staff;

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c) Responsible for the records and inventory on assets of the association that are deposited in PhilRES Office; d) Approves the use of the PhilRES facilities. The Vice President for Administration shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 60. Secretary General There shall be a Secretary General who shall be a Trustee, and shall perform all duties as customary to the Office of the Secretary General. The Secretary General shall: a) prepare, record and keep full minutes of all meetings of the National Directorate and of the members; b) give, or cause to be given, all notices required by the law or by the By-Laws of PhilRES as well as notices of all meetings of the National Directorate and of the members; c) perform such other duties as may be prescribed by the National Directorate or the President; d) have supervision over PhilRES' National Secretariat Office and other duties usual to such office; e) keep and safeguard all records of PhilRES within the National Secretariat Office confines at all times or at any other location or place as duly approved by the National Directorate; f) certify as to the membership status and eligibility of all members as duly noted by the President. However, no Secretary General performing as such only in an Acting capacity or Assistant Secretary General may issue eligibility or membership status of any member or members; The Secretary General shall jointly with the Treasurer and the Vice President for Membership submit a certified list of Members in Good Standing to the Comelec prior to the holding of any elections. g) furnish all new members a faithful reproduction of the By-Laws of PhilRES prior to their formal induction as members into PhilRES; h) certify as to the presence of a quorum in all national meetings of PhilRES. The Secretary General shall have the powers, authorities, duties, functions and responsibilities the President or National Directorate may from time to time assign to him.

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Section 61. Vice President for Academe There shall be a Vice President for Academe who shall perform all duties as customary to his office. In addition he/she shall: a. Be the Presiding Officer of the Curriculum Development and Coordinating Committee; b. Update the National Directorate on the status of Curriculum Development and Coordinating Committee in cooperation with the Commission on Higher Education (CHED); c. Prescribe and/or propose guidelines and criteria for the Continuing Professional Education (CPE) program for real estate service practitioners in consultation with the Professional Regulatory Board of Real Estate Service (PRBRES) after the approval of PhilRES National Directorate; The Vice President for Academe shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 62. Vice-President for Public Information and External Affairs There shall be a Vice-President for Public Information Officer who shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 63. Vice President for Finance and Investments There shall be a Vice President for Finance and Investments who shall perform all duties as customary to his office. In addition he/she shall: a) Responsible for the budgetary preparations and requirements of the association during its calendar year; b) Prepares Financial Reports for the National Directorate consumption, during Annual General Membership Meetings and submission of the said report to the BIR, SEC and appropriate regulatory agencies; c) Shall coordinate with the Internal Auditor and the External Auditor. The Vice President for Finance and Investments shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 64. Vice President for Internal Audit There shall be a Vice President for Internal Audit who shall be a Trustee and who performs all duties as customary to his office. The Vice President for Internal Audit shall be the Chairperson of the Internal Audit Team and must be a Certified Public Accountant (CPA).
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The Vice President for Internal Audit shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 65. Vice-President for International Affairs & Affiliations There shall be a Vice President for International Affairs & Affiliations who shall perform all duties as customary to the office. The Vice President for International Affairs & Affiliations shall have the powers, authorities, duties, functions and responsibilities the President or the National Directorate may from time to time assign to him/her.

Section 66. Assistant Secretary General There shall be a Vice President who shall assume the powers and responsibilities of the office of the Assistant Secretary General upon formal notice to do so by the Secretary General or upon lawful order of the National Directorate and perform all duties as customary to the Office of the Assistant Secretary General. The Assistant Secretary General shall have the powers, authorities, duties, functions and responsibilities the President or National Directorate may from time to time assign to him/her.

Section 67. Vice President & Assistant Treasurer There shall be a Vice President & Assistant Treasurer who performs all duties as customary to his office. The Vice President & Assistant Treasurer shall have the powers, authorities, duties, functions and responsibilities the National Directorate may from time to time assign to him/her.

Section 68. Vacancies in and Delegation of Officers The corporate modes of succession as specified in the Corporation Code of the Philippines as amended shall be followed unless otherwise specifically specified in these By-Laws. Should the office of any of the National Trustees becomes vacant, except by recall, impeachment or end of term of office, by death, resignation or permanent incapacity of the incumbent, the remaining National Trustees, if still constituting a quorum may by majority vote choose a successor or successors who shall hold office for the unexpired term of the vacant office. In case of the temporary absence of any officer of PhilRES, or for any other reason, the National Directorate may delegate the powers and duties of such officer to any other officer or to any National Trustee for the time being, provided a majority of the National Directorate concur therein and such delegation is not contrary to any provision of these By-Laws.

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ARTICLE XI. NATIONAL MEETINGS Section 69. Who May Participate a) All Members may attend Regular General Membership Meetings and Special General Membership Meetings provided that these Members pay the assessment fees charged for the meetings. b) Only Regular Members in Good Standing with PhilRES shall have the right to give and receive proxies, vote and be voted upon in all meetings and elections. c) Only Regular Members in Good Standing may make motions, clarifications, second any motion, approve, disapprove or object to any motions in any discussion, debate in all meetings and elections or division of the house.

Section 70. Place All meetings of the members shall be regularly held at the principal office of PhilRES, unless written notice of such meetings should set another place.

Section 71. Proxy 1. Proxies shall be in writing and in the form as prescribed by the National Directorate and may be given only by Regular Members in Good Standing to other Regular Members in Good Standing who will physically attend any duly scheduled Regular or Special Meeting. 2. Proxies shall only be used together with all physically present Regular Members in Good Standing during any regular meeting, special meeting or elections to determine the presence of quorum. Only Regular Members in Good Standing who are physically present at all meetings and/or elections may vote. Only Regular Members in Good Standing who are physically present at all meetings and/or elections who have been nominated and qualified by their Local Chapter to be included in the Local Chapter Roster of Qualified and Eligible Candidates for submission to and qualification and approval by the Comelec to be included in the National Roster of Qualified and Eligible Candidates to the National Elections may be voted upon.

3.

4.

Section 72. Quorum No general members' meeting shall be competent to decide any matter or transact any business unless a quorum of all the members in good standing and represented thereat by proxies are present. Proxies shall only be used together with all physically present Regular Members in Good Standing during any regular meeting, special meeting or elections to determine the presence of a quorum.
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 44 of 94

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Section 73. Annual Meeting The Annual National General Membership Meeting and Elections of PhilRES shall be held every 18th day of the month of November of each calendar year and notices of Annual General Membership Meeting and Elections shall be sent out to all Members in Good Standing of PhilRES at least fifteen (15) calendar days prior to such meeting. Notices of all other Regular National General Membership Meeting and Elections or Special General Membership Meetings and Elections shall be mailed, e-mailed, faxed or sent by special courier or messengerial service by the Secretary General at least ten calendar (10) days before the date set for the meeting. Waiver of Notice of Meeting for Regular National General Membership Meeting and Elections or Special General Membership Meetings and Elections shall not be allowed.

Section 74. Special Meetings Special General Membership Meetings may be called by the Chairman of the National Directorate and/or by the President at his discretion, or upon written request of twelve (12) National Trustees. A written notice stating the date, time and place of meeting and the general nature of the business to be transacted shall be sent to each member at least four (4) days before the date of such special meeting. Waiver of Notice of Special General Membership Meeting shall not be allowed.

Section 75. Order of Business The order of business at any Regular National Annual General Membership Meeting and Elections or Special General Membership Meeting shall be as follows: I. Proof of service of the required notice of the Annual General Membership Meeting, except when waived by the members constituting the quorum; Proof of the presence of a Quorum; Approval of the following agenda: a) Reading and approval of the minutes of the previous annual meeting, except when such reading is dispensed with by a majority votes of those presence; b) Discussion of Unfinished business; c) Treasurers Financial Report; d) Report of the President; e) Election of the Members of the National Directorate; and f) Other Matters. Adjournment.

II. III.

IV.

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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 45 of 94

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Section 76. Minutes Minutes of all meetings of the members shall be kept and carefully preserved as a record of the business transacted at such meetings by the Secretary General. The minutes shall contain such entries as may be required by law.

ARTICLE XII. EXECUTIVE COMMITTEE & MANAGEMENT COMMITTEE Section 77. Powers of the Executive Committee Subject at all times to the direction and control of the National Directorate, the Executive Committee shall have and may exercise the power to meet and decide on all matters relating to the management of the affairs and business of PhilRES of utmost importance and urgency when the whole National Directorate is not in a position to meet, except on matters specifically restricted under the Corporation Code of the Philippines. The presence of the majority including the President shall constitute a quorum in all meetings of the Executive Committee. However, any and all actions of the Executive Committee shall be decided by a majority vote of all its members and that the same shall be reported for ratification by the National Directorate during the National Directorate next meeting. The Executive Committee (Execom) shall be composed of following: a. b. c. d. e. f. g. h. i. j. k. l. m. n. o. p. q. r. s. t. Chairman of the Board, Vice Chairman of the Board, President, Executive Vice President, Secretary General, Treasurer, Vice President for Consultants, Vice President for Appraisers, Vice President for Brokers, Vice President Government Assessors, Vice President for Appraisers, Vice President for Membership, Vice President for Chapter Development & Chapter Affairs, Vice President for Administration. Vice President for Internal Audit, Vice President for Academe, Vice-President for Public Information and External Affairs, Vice President for International Affairs & Affiliations, Vice President & Assistant Secretary General, and Vice President & Assistant Treasurer.

The existence of a quorum shall be necessary to conduct the regular business of the Executive Committee to be valid.

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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 46 of 94

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Section 78. Management Committee 1. The Management Committee (Mancom) is composed of the following: a. b. c. d. d. President, Executive Vice President, Secretary General, Vice President for Administration; and Treasurer.

2.

The Management Committee shall aid in the day to day operations of the organization. lt evaluates the performances of the PhilRES personnel periodically as may be necessary and endorses recommendations of such evaluations to the National Directorate for proper actions.

The presence of a quorum shall be necessary to conduct the regular business of the Management Committee to be valid.

ARTICLE XIII. NATIONAL ADMINISTRATION OFFICE (PhilRES-National) Section 79. National Office and Local Chapter Administration 1. The National Directorate shall establish and adopt the administrative structure of PhilRES-National and its Local Chapters to be known hereinafter as The Administrative Structure of Local Chapters of PhilRES, policies and procedures for the effective and efficient management of the day to day operations of PhilRES in accordance with the provisions of these By-Laws. 2. The Administrative Structure of Local Chapters of PhilRES shall be composed of the provinces, first class municipalities and cities that make up the SIX (6) Regional Area Jurisdictions. The six (6) Regional Area Jurisdictions are composed of National Capital Region 1 (NCR1), National Capital Region 2 (NCR2), North Luzon, South Luzon, Visayas and Mindanao. 3. The rank and file administrative, operating and service personnel of the National Administration Office (PhilRES-National) shall function under the direct supervision of the Management Committee through the Office of the Secretary General and the Vice President for Administration. PhilRES-National shall always be composed of regular, qualified and career employees who are non-Regular and/or non-Associate Members of PhilRES. The Local Chapter Secretariat offices rank and file administrative, operating and service personnel of PhilRES shall likewise be always composed of regular, qualified and career employees who are non-Regular and/or non-Associate Members of PhilRES.
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 47 of 94

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060

Section 80. NCR1 Regional Area Jurisdiction The NCR1 Regional Area Jurisdiction shall be composed of the following cities and municipalities: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. City of Valenzuela; City of Navotas; City of Malabon; Kalookan City; Quezon City; City of Marikina; City of San Juan; City of Mandaluyong; Municipality of Rodriguez; Municipality of San Mateo.

Section 81. NCR2 Regional Area Jurisdiction The NCR2 Regional Area Jurisdiction shall be composed of the following cities and municipalities: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. City of Manila; Pasay City. City of Makati; City of Las Pinas; City of Paranaque; Municipality of Taguig City; City of Muntinglupa; City of Pasig; Cainta City; Municipality of Pateros; Municipality of Taguig.

Section 82. North Luzon Regional Area Jurisdiction The North Luzon Regional Area Jurisdiction shall be composed of the provinces, first class municipalities and cities that make up the political and geographic jurisdictions of: Region 01 Region 02 Region 03 Region 14 Ilocos Region; Cagayan Valley; Central Luzon; Cordillera Administrative Region.

Section 83. South Luzon Regional Area Jurisdiction The South Luzon Regional Area Jurisdiction shall be composed of the provinces, first class municipalities and cities that make up the political and geographic jurisdictions of: Region 04a Region 04b Region 05 Calabarzon; Mimaropa; Bicol Region.
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 48 of 94

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Section 84. Visayas Regional Area Jurisdiction The Visayas Regional Area Jurisdiction shall be composed of the provinces, first class municipalities and cities that make up the political and geographic jurisdictions of: Region 06 Region 07 Western Visayas; Central Visayas.

Section 85. Mindanao Regional Area Jurisdiction The Mindanao Regional Area Jurisdiction shall be composed of the provinces, first class municipalities and cities that make up the political and geographic jurisdictions of: Region 09 Region 10 Region 11 Region 12 Region 13 Region 15 Zamboanga Peninsula; Northern Mindanao; Davao Region; Soccsksargen; Caraga; Autonomous Region In Muslim Mindanao.

ARTICLE XIV. ELECTIONS & ELECTION of NATIONAL OFFICERS and NATIONAL TRUSTEES Section 86. Eligible Nominees 1. Only Past National Presidents of PhilRES who are Members in Good Standing shall be eligible to be selected for inclusion into the Local Chapter Roster of Qualified and Eligible Candidates that shall be submitted to the Comelec for qualification and approval by the Comelec to be qualified and included into the National Roster of Qualified and Eligible Candidates for election into the position of Chairman and Vice Chairman of the National Directorate of PhilRES.

2.

Only Local Chapter Past Presidents of PhilRES who are Members in Good Standing, are eligible to be selected and included to the Local Chapter Roster of Qualified and Eligible Candidates that shall be submitted to the Comelec for qualification and approval by the Comelec to be qualified and included into the National Roster of Qualified and Eligible Candidates for election into the position of President, Executive Vice President, and Regional Vice Presidents of the National Directorate, unless otherwise provided for in these PhilRES By-Laws.

3.

All Members in Good Standing of Local Chapters are automatically eligible to be selected and included in the Local Chapter Roster of Qualified and Eligible Candidate official nominee representatives, unless otherwise provided for in these PhilRES ByLaws.

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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 49 of 94

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Each Local Chapter shall select their official nominee representatives for inclusion into the Local Chapter Roster of Qualified and Eligible Candidates by secret ballot from the Local Chapter Members in Good Standing. Only one (1) eligible Local Chapter Member receiving the highest number of votes cast by secret ballot of all the Local Chapter members in good standing for each of the following national elective positions: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Chairman of the Board of the National Directorate; Vice-Chairman of the Board of the National Directorate; President; Executive Vice-President; Vice President for Consultants; Vice President for Appraiser; Vice President for Brokers; Vice President for Government Assessors; Vice President for Government Appraisers; Vice President for Treasury; Vice President for Membership; Vice President for Chapter Development & Chapter Affairs; Vice President for Administration; Vice President for Internal Audit; Regional Vice-President; Secretary General;

shall be the Local Chapters representative nominee to be officially endorsed to the Comelec for inclusion into the National Roster of Qualified and Eligible Candidates to the National Elections for election into the National Directorate except otherwise provided for in these By-Laws.

4.

The non-availability of any eligible nominee representative in any of the categories does grant additional nominees to the Local Chapter in the other categories.

5.

A member may be nominated into more than one elective position provided that the member possesses the required qualifications to be nominated and elected into such elective position.

6.

A non-voting Associate Member nominee representative to Associate Members Pool of Nominees from which the National Board of Trustees-Elect shall choose the Associate Member representative to the National Directorate shall be selected by the Associate Members in Good Standing of the Local Chapter from among themselves by secret ballot. The Associate Member garnering the highest number of votes cast by secret ballot by the Associate Members in Good Standing shall be the Local Chapters Associate Member nominee representative to Associate Members Pool of Nominees.

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Section 87. Election of the National Directorate 1. The Election of the National Directorate shall precede the elections for officers and trustees of the Local Chapters.

2.

No member who has already been elected or appointed in any national position may be concurrently elected or appointed in any Local Chapter.

3.

Elections for Local Chapters shall be held not earlier than fifteen (15) days after the election of the National Directorate and Officers of PhilRES and shall be conducted by the Local Chapter Comelec within their respective territorial jurisdictions.

4.

Election of the National Directorate shall consist of Twenty-One (21) National Trustees who shall be elected every year and who shall serve and function in their respective offices for the particular position they were elected into for one (1) year until their successors have been duly qualified and elected into office. The National Directorate shall serve from January 01 of every year until December 31 of the same year unless otherwise specifically provided for in the By Laws. The National Directorate shall be elected annually every 18th of November by plurality vote by all Members in Good Standing as qualified by the Comelec during the Annual General Membership Meeting and Elections from the National Roster of Qualified and Eligible Candidates to the National Elections from NCR1, NCR2, North Luzon, South Luzon, Visayas, and Mindanao.

5.

6.

Only Regular Members in Good Standing who are physically present at all meetings and/or elections may vote.

7.

Only Regular Members in Good Standing who are physically present at all meetings and/or elections who have been selected and included in the National Roster of Qualified and Eligible Candidates to the National Elections as Local Chapter nominee representatives for election may be voted upon for the particular position they were nominated for.

8.

In case of the failure to elect the minimum number of government sector representatives as required pursuant to Section 88 (A) Article XIV of these By-Laws, the vacant positions may not be filled by electing non-government representatives to the position. The Trustees-elect shall by majority vote, choose a Member in Good Standing from the government sector from any regional area jurisdiction to fill that position mandated by these By-Laws to be occupied by a real estate practitioner from the government sector.

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9.

An eligible member who has been nominated into more than one (1) elective position may only serve and function in the highest elective position he was voted into and is automatically disqualified from being considered as a qualified candidate in the other lower positions. The Comelec shall canvass and declare the winning Trustees-elect pursuant to the following sequence and priority: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. Chairman of the Board of the National Directorate; Vice-Chairman of the Board of the National Directorate; President; Executive Vice-President; Secretary General; Vice President for Consultants; Vice President for Appraiser; Vice President for Brokers; Vice President for Government Assessors; Vice President for Government Appraisers; Regional Vice-President NCR1; Regional Vice-President NCR2; Regional Vice-President North Luzon; Regional Vice-President South Luzon; Regional Vice-President Visayas; Regional Vice-President Mindanao; Vice President for Treasury; Vice President for Membership; Vice President for Chapter Development & Chapter Affairs; Vice President for Administration; Vice President for Internal Audit.

Section 88. Composition of the National Directorate A. One third (1/3) of the National Directorate seats (equivalent to seven [7] board seats) shall be allotted to the licensed real estate practitioners from the eligible and qualified government sector representatives from local government assessors, government appraisers of government owned and/or controlled corporations and financial institutes whose names appear in the National Roster of Qualified and Eligible Candidates to the National Elections unless there are no eligible and qualified candidates present during said elections. B. There shall be three (3) National Trustees who are Regular Members in Good Standing elected representing the real estate consultants sector from the eligible and qualified consultants whose names appear in the National Roster of Qualified and Eligible Candidates to the National Elections; C. There shall be four (4) National Trustees who are Regular Members in Good Standing elected representing the real estate appraisers sector from the eligible and qualified real estate appraisers whose names appear in the National Roster of Qualified and Eligible Candidates to the National Elections;

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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 52 of 94

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D. There shall be seven (7) Trustees who are Regular Members in Good Standing elected representing the real estate brokers sector from the eligible and qualified real estate brokers whose names appear in the National Roster of Qualified and Eligible Candidates to the National Elections; E. A non-voting Associate Member representative to the National Directorate shall be selected by the members of the National Directorate-elect from among the Associate Members Pool of Nominees to act as an official observer of the Associate Members during meetings of the National Directorate but would not have any right to enjoy the right and privilege to vote, make motions or, interpellate any National Trustee.

Section 89. Rotation for the Election of the Chairman of the Board of Trustees An eligible candidate for election into the position of Chairman and Vice Chairman of the National Directorate must be a past president of PhilRES, and shall be rotated from the regional area jurisdictions in the following order, namely: Mindanao; NCR1; South Luzon; NCR2; Visayas; North Luzon and thereafter back to Mindanao in the order of its sequence unless otherwise provided for in these By-Laws. Should there be no eligible nominee from a particular region in a given year, that region will lose its right to elect a Chairman of the National Directorate from its region and the region immediately following in the sequence of rotation shall have the right to elect the Chairman of the National Directorate from its region unless expressly provided for in these By-Laws. The sequence of electing the Chairman of the National Directorate shall then proceed in the original order of sequence.

Section 90. Rotation for the Election of the President The President position shall be elected by the general membership from the eligible and qualified Local Chapter official nominee representatives to the National Roster of Qualified and Eligible Candidates to the National Elections which shall be rotated from the Regional Area Jurisdictions in the following order, namely: NCR1; Mindanao; South Luzon; NCR2; Visayas; North Luzon and thereafter back to NCR1 in the order of its sequence. Only Past Presidents of PhilRES Local Chapters who are Members in Good Standing of PhilRES, shall be eligible to be selected and endorsed to the Comelec for inclusion into the National Roster of Qualified and Eligible Candidates to the National Elections as the Local Chapter nominees for election into the position of President and of Executive Vice President of the National Directorate of PhilRES.

Section 91 Annual General Membership Meeting and Elections The Annual General Membership Meeting and Elections of Phi1RES shall be held every 18th of November of each calendar year, when all the Members in Good Standing as qualified by the Comelec shall elect by a plurality vote by ballot into the particular position they were nominated into by their Local Chapters, a National Directorate of Twenty-One (21) Trustees to serve for one year until their successors are qualified and elected.

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The Regular Members in Good Standing whose names appear in the National Roster of Qualified and Eligible Candidates to the National Elections, as provided for in these By-Laws, receiving the highest number of votes cast for each position by all Regular Members in Good Standing voting in the election shall be the Trustees-Elect. Only Regular Members in Good Standing who are physically present at all meetings and/or elections may vote. Only Regular Members in Good Standing who are physically present at all elections who have been selected and included to the National Roster of Qualified and Eligible Candidates to the National Elections as Local Chapter nominee representatives for election may be voted upon only in the particular position they were officially nominated for.

Section 92. Procedures in Breaking Ties 1. In case of a tie for the votes cast for a National Trustee position of the National Directorate other than for the position of Chairman of the National Directorate, the tie may only be broken by secret ballot among those other Trustees-Elect not affected by the tie, excluding the Chairman-elect of the National Directorate. The candidate/s that receives the highest number of votes cast by those other TrusteesElect not affected by the tie shall be the Trustee/s-Elect that shall occupy the Trusteeelect for that specific position in the National Directorate. If a tie should still exist after the National Trustees-Elect shall have cast their votes to break the initial tie for a National Trustee position, then the Chairman-elect of the Board of Trustee shall break the tie. 2. In case of a tie for the votes cast for the specific elective position of Chairman-elect of the National Directorate, the tie may only be broken by secret ballot among those other Trustees-Elect not affected by the tie.

Section 93. Eligibility Qualifications 1. All Regular Members in Good Standing shall be eligible to nominate, be nominated, give proxy, receive proxy/ies, vote and be voted upon in any election, provided that the Regular Member shall: a) Have at least twelve (12) months continuous minimum residency in PhilRES as a member in good standing; b) Be a possessor of a valid license and valid Professional Identification Card as a Real Estate Service Practitioner; c) Shall have fully paid all PhilRES dues and assessments including that of his/her chapter on time; d) Declare his/her Local Charter of Choice if the Individual Member is a member of more than One (1) Local Chapter. The Local Charter of Choice of the Individual Member shall be where that individual member may nominate, be nominated, give proxy, receive
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proxies, vote and be voted upon. e) Have not have been convicted of any crime involving moral turpitude; f) Have any other qualifications as may be determined by the Comelec.

2. All Regular Members in Good Standing shall be eligible to be voted upon in any position in any election, provided that the Regular Member shall: a) Have at least twelve (12) months continuous minimum residency in PhilRES as a member in good standing; b) Have been endorsed by his/her local Chapter in the region where he/she is a member and whose name appears in the National Roster of Qualified and Eligible Candidates to the Local Chapter Elections or National Elections in the specific position the member was nominated into; c) Have accepted the nomination to serve in any position and have pledged to adhere and abide the by-laws of PhilRES; d) Be a possessor of a valid license and valid Professional Identification Card as a Real Estate Service Practitioner; e) Shall have fully paid all PhilRES dues and assessments including that of his/her chapter on time; f) Have not have been convicted of any crime involving moral turpitude; g) Have not been involved in any act or a member of an association/organization with purposes/activities directly or indirectly inimical or inconsistent to PhilRES purposes; and h) Any other qualifications as may be determined by the Comelec.

3. No Regular Member may run for re-election as President or Local Chapter President immediately (a) after their term has expired, or (b) who was not able to perform his/her regular duties and functions (on leave) as of the end of his/her term, or (c) who was not able to finish as his/her term for whatever reason, as President or Local Chapter President.

4. No Regular Member shall be elected as a National Trustee and/or be appointed to any national committee chairman position for more than three (3) consecutive terms.

5. No Regular Member shall be elected as a Local Chapter Trustee and/or be appointed to any Local Chapter committee chairman position for more than three (3) consecutive terms unless otherwise provided for by the Local Chapter respective by-laws as far as Committee Chairman position is concerned.
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6. No Regular Member or Associate Member or any of their relatives within the second (2nd) degree of consanguinity or affinity shall be employed as a regular or contractual employee of PhilRES-National or any of its Local Chapters.

ARTICLE XV. LOCAL CHAPTERS Section 94. Purpose and Objectives in Creating Local Chapters The purpose and objectives of creating a Local Chapter are the following: 1. To promote maximum participation of all members in all activities and programs, in advancing the objectives of the organization and that of the real estate service profession;

2.

To be the extension of the national organization in the Chapter's territory or jurisdiction and to police the members within their respective jurisdiction.

3.

To implement and carry out all programs and projects of the national organization, except when the nature of a project requires direct implementation by the national organization.

Section 95. Chapter Organization 1. Governance a. The National Directorate shall prescribe a set of uniform rules governing the administration and operation of Local Chapters which shall not be inconsistent with the Articles of Incorporation and By-Laws of PhilRES. Exception or modifications of the rules and provisions for any specific Local Chapter shall not be allowed unless otherwise approved by the National Directorate and when so approved such modifications should be applicable for all other Local Chapters. b. No act of a Local Chapter shall directly or indirectly nullify or contravene any provisions of these By-Laws and such rules and regulations adopted by the National Directorate; and All Chapters shall be under the general supervision of their respective Regional Vice-Presidents as provided in these By-Laws.

c.

2.

Formation of Chapter The National Directorate may, as it deems fit, organize or approve applications to organize Local Chapters.

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The National Directorate shall organize or approve the organization of not more than one (1) Local Chapter for each province, each city or each First Class Municipality. The National Directorate shall have the sole authority to approve and prescribe rules and regulations as prescribed and consistent with these By Laws for the creation or organization of a new Local Chapter.

3.

Authority and Duties of Chapters The following are the authority and duties of Local Chapters. Local Chapters shall: a. Adopt a name which shall include the acronym PhilRES-" as prefix of the Local Chapters name consistent with rules and regulations on Chapter nomenclature; Cooperate with other Local Chapters, Regional and National organizations upon consultation and with the permission of the National Directorate to further the interests of the members, and by agreement with these organizations, may represent and act for them only within the Local Chapters jurisdiction and domain. Local Chapters seeking or intending to hold or conduct any activity which is outside and beyond its local chapter jurisdiction and territory are required to: b.1 Formally notify the National Directorate in writing at least thirty (30) days prior to the holding of any activity outside and beyond its local chapter jurisdiction and territory of its intention to hold an activity; Formally notify in writing the Local Chapter within whose local chapter jurisdiction and territory the intended activity is to be held and seek its permission at least thirty (30) days prior to the holding of the activity;

b.

b.2

c. d. e.

Collect PhilRES-National and Local Chapter Annual Membership Dues; Implement all programs and projects of PhilRES-National; and Perform such other functions and duties as may be assigned by the Regional Vice-President which shall be consistent with the plans and programs of the National Directorate.

4.

Chapter in Good Standing a. To be in good standing for the current calendar year a Local Chapter i. must have the minimum number of fifteen (15) members in good standing; and

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ii.

must have paid on time as prescribed in this By Laws the required Chapter Annual Fee at such reasonable amounts as determined by the Local Chapter Board of Trustees.

b.

A Chapter in good standing shall be given the right to: i. qualify members in good standing for inclusion into the National Roster of Qualified and Eligible Candidates for election or appointment as a National Trustee or National Officer; and participate in various national awards, such as Most Outstanding Local Chapters, etc.

ii.

Section 96. Administration of Chapters 1. Composition The administration of each Local Chapter shall be vested in a Local Chapter Board of Trustees consisting of the following elected members. a. b. c. d. e. f. g. h. i. j. Chapter President, Chapter Executive Vice President, Chapter Secretary, Chapter Treasurer, Chapter Auditor, Chapter Vice President for Consultants, Chapter Vice President for Appraiser, Chapter Vice Presidents for Brokers, Chapter Vice President for Government Appraiser, Chapter Vice {President for Government Assessors.

A non-voting Associate Member representative to the Local Chapter Board of Trustees shall be selected by the members of the Local Chapter Trustees-elect from among the list of Associate Members in Good Standing to act as an official observer of the Associate Members during meetings of the Local Chapter Board of Trustees but would not have any right to enjoy the right and privilege to vote, make motions or, interpellate any Trustee. Should there be no eligible candidate for a particular sectoral category at any Local Chapter elections, a Regular Member in Good Standing from the particular sectoral category shall be appointed by the duly elected National Directorate from a list of Five (5) recommendees submitted by the President to the National Directorate to fill that particular vacant sectoral category for that particular election.

2.

Qualifications of Officers Candidate nominees at any elections for Chapter Officers must possess the following qualifications: a. Regular membership in good standing of the Chapter;

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b.

Active participation in the affairs of the Chapter for at least two (2) years. This requirement does not apply for Local Chapters in the first two (2) years of formation; Demonstrated leadership in professional, civic or community undertakings; Good moral character and adherence to the PRC prescribed National Code of Ethics and Responsibilities and other authorized authorities; and At least two (2) consecutive years of active practice of the profession.

c. d.

e.

3.

Term of Office a. The members of the Chapter Board of Trustees shall serve for one (1) year from January 01 until December 31 of every year they are elected or until the successor shall have been qualified and elected. No member of the Chapter Board of Trustees shall hold office and/or be appointed in any position for more than three (3) consecutive terms.

b.

4.

Vacancy In case of vacancy during the term of office of any of the trustees or officers, the provision of law as embodied in the filling up of vacancies as enumerated in the Corporation Code of the Philippines shall apply unless otherwise provided for in this ByLaws.

5.

Duties of Chapter Officers The duties of the Chapter Officers arc as follows: a. President The President, who shall be a Trustee, shall perform all duties as customary to his office. He shall: a.1 a.2 Be the Chief Executive Officer of his Local Chapter; Preside at all Meetings and at the Annual General Membership Meeting and Elections; Always be the Official Representative of his Local Chapter and act in its name subject to the declared policies of the Local Chapter and the National Directorate of PhilRES and the provisions of the standard PhilRES Local Chapter By-Laws; Countersign all checks for disbursements of funds of his Local Chapter; Submit an annual report to the members;

a.3

a.4 a.5

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a.6

Serves as the Chief Executive Officer of the Chapter and as such shall exercise general supervision over the affairs thereof; Ensures that the By-Laws as well as the resolutions, directives and policies issued in pursuance thereof by the Local Chapter Directorate, officers and committees acting within their respective legal authorities are complied with by the Chapter; Presides over all the meetings of the Chapter Board of Trustees and the General Membership of the Chapter; Organizes the Chapter committees; Supervises all its committee works, and social and business affairs; Signs contracts, directives and legal instruments which have been approved by the Chapter Board of Trustees; and Represents the Chapter on all occasions and in all matters where it should be represented and submits reports and plans and programs of his Local Chapter to their respective Regional Vice Presidents.

a.7

a.8

a.9 a.10 a.11

a.12

b.

Executive Vice President The Local Chapter Executive Vice President who shall be a Trustee, shall perform all duties as customary to his office and shall have the powers, authorities, duties, functions and responsibilities assigned and duties the Local Chapter President or Local Chapter Board of Trustees may from time to time assign to him. The Executive Vice President shall: b.1 b.2 assist the Local Chapter President of PhilRES in all matters; take-over the duties and responsibilities in the temporary absence of the Local Chapter President; represent his Local Chapter and act in its name subject to the declared policies of the Local Chapter Board of Trustees and the provisions of their Chapter By-Laws in the temporary absence of the Local Chapter President.

b.3

c.

Secretary The Local Chapter Secretary who shall be a Trustee, shall perform all duties as customary to his office and shall have the powers, authorities, duties, functions and responsibilities assigned and duties the Local Chapter President or Local Chapter Board of Trustees may from time to time assign to him. c.1 Issues and Certifies a duly notarized List of Regular Members and Associate Members in Good Standing as of 15 March of every year not later than 31 March of the same year and together with the Membership
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Committee Chairman transmits the certified list to the Secretary General. This list shall also indicate its members with memberships with other local chapters and the Local Chapter of Choice of such member/s; c.2 Issues all notices, circulars, records and supervise the proper recording of minutes of all Chapter meetings; Takes charge and custody of all the legal correspondences of the Chapter; Prepares and submits a quarterly accomplishment report to the respective Regional Vice President; Safekeeping of all records for proper turnover to the next secretary; and Performs such other matters as may, from time to time, be required of him by the Chapter President and the Local Chapter Board of Trustees.

c.3 c.4

c.5 c.6

d.

Treasurer The Local Chapter Treasurer who shall be a Trustee, shall perform all duties as customary to his office and shall have the powers, authorities, duties, functions and responsibilities assigned and duties the Local Chapter President or Local Chapter Board of Trustees may from time to time assign to him. d.1 Takes charge of the over-all supervision of the financial affairs of the Chapter; Collects all fees, dues or contributions from the Chapter members as required by their Local Chapter By-Laws and as may be authorized by the Local Chapter Board of Trustees and/or by the PhilRES-National which are not inconsistent with the By-Laws. The Local Chapter Treasurer shall forward to the Local Chapter Secretary before the end of the month of March of every year the List of Regular Members and Associate Members who have paid their required membership dues and other assessments or arrears, if any as of 15 March of every year; d.3 Disburses funds as necessary and in accordance with approved accounting and auditing rules and procedures; Signs all instruments of the Local Chapter wherein his signature is required by law and perform all such duties for the Chapter as may be assigned to him by the Chapter President and the Chapter Board of Trustees; Remits to the Treasurer the national share of the national annual individual membership dues and Local Chapter membership dues and prepare an official report of the said remittance to the Chapter Board of Trustees;

d.2

d.4

d.5

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d.7

Renders monthly report and audited annual financial report to the Chapter members and to the Treasurer regarding the receipt and disbursement of funds and their amounts under his/her responsibility; Signs all checks, and all financial transactions, together with the Chapter President or another officer as may be designated by the Chapter Board of Trustees.

d.8

e.

Local Chapter Auditor The Local Chapter Auditor who shall be a Trustee, shall conduct regular audit in accordance with the auditing rules and regulations and perform all duties as customary to his office and shall have the powers, authorities, duties, functions and responsibilities assigned and duties the Local Chapter President or Local Chapter Board of Trustees may from time to time assign to him. The Local Chapter Auditor: e.1 Conducts an overall independent review of all financial affairs to ensure check and balance of the business operations of the Chapter; and Serves as a regular member of the Chapter Board of Trustees with voting rights.

e.2

Section 97. Chapter Meetings 1. The Chapter Board of Trustees shall hold meetings at least once a month that will not be in conflict with any previously set PhilRES-National activity; 2. The Chapter General Membership Meeting shall hold meetings in such frequency as the Chapter Board of Trustees decides. During the meeting at such time and date in such place as may be agreed upon by its members, Chapter activities shall be discussed and the Chapter Treasurer shall render a report on the financial affairs of the Chapter; 3. No subject matter requiring a quorum shall be acted upon unless notice thereof is given to the members at least seven (7) days before the day of meeting.

Section 98. Chapter Committees 1. The Chapter Committees are but may not be limited to: a. b. c. d. e. f. g. h. Committee on Internal Affairs Committee on Professional Practice Committee on Governmental and External Affairs Committee on Education Committee on Professional Development Committee on Continuing Professional Education Committee on Multi Listing or Property Listing Committee on Advocacy and Anti-Colorum
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2.

The Local Chapter Board of Trustees and/or the President shall have the power to create other committees at any time and appoint Chapter Committee Chairman and members subject to the confirmation of the Local Chapter Board of Trustees.

Section 99. Revival of Inactive Chapters The National Directorate shall institute measures and policies concerning the revival of inactive Chapters.

Section 100. Certificate of Chapter Registration A Certificate of Chapter Registration is issued to each Local Chapter that is organized which states the date of admission, classification as Chapter, territorial domain, Regional Area Jurisdiction classification, Chapter Charter Officers and Members; duly signed by the President, Secretary General, Regional Vice President and the Chairman of the Committee on Chapter Organization. lt shall bear the Official Seal of PhilRES.

Section 101. Local Chapter Presidents Assembly (LCPA) 1. Composition a. The Local Chapter Presidents' Assembly is composed of all incumbent Local Chapter Presidents with the President, or his duly appointed representative who is also a National Trustee, as member. The Officers of the Local Chapter Presidents' Assembly shall be: b.1 b.2 b.3 b.4 CPA Chairperson; CPA Vice Chair; CPA Secretary; CPA Treasurer.

b.

2.

Purposes for the Local Chapter Presidents Assembly The Local Chapter Presidents' Assembly meets either by Regional Area Jurisdiction or as a collective national body of Chapter Presidents for the following purposes: a. To discuss and exchange ideas and monitor implementation of program and projects; To compare results of programs and projects and evaluate difficulties and successes and recommend solutions to the problems; To propose and endorse through their respective Regional Vice Presidents, to the National Directorate any needed amendments in the Local Chapter By-Laws or PhilRES-National By-Laws; Submit through their respective Regional Vice Presidents, programs and policies through resolutions, subject to the approval of the National Directorate.

b.

c.

d.

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3.

Quorum Assembly Requirements a. The President, or his duly appointed representative who is also a National Trustee, must always be present in any Local Chapter Presidents Assembly to be valid and shall be part of the quorum and voting members at any meeting of the CPA. The Local Chapter Presidents' Assembly must have a valid quorum for any Assembly business to be valid.

b.

Section 102. Types of Membership in Local Chapters The Types of Membership of Local Chapters are: 1. Regular Members 1.a Natural persons who are licensed and registered real estate service practitioners who have been duly licensed and recognized by the Professional Regulatory Board of Real Estate Service pursuant to the provisions of Section 20 Article III and Section 30 Article IV as applicable of R. A. 9646, and its Implementing Rules and Regulations, and; Who have been admitted into PhilRES as a Regular Member pursuant to the provisions of Section 34 Article IV of R. A. 9646, and its Implementing Rules and Regulations. Regular Members of Local Chapters are the classified as: 1.c.1. Founding Members The Founding Members of Local Chapters are the Founding Incorporators, Founding Officers and Trustees and the other Members of the Local Chapter at the time of the filing of the Articles of Incorporation and By-Laws of that particular Local Chapter. 1.c.2. Charter Members The Charter Members are the registered and licensed real estate service practitioners who were accepted as members of the Local Chapter and who were classified as Charter Members by the Local Chapter upon their formal acceptance, investiture and badging to the Local Chapter. 1.c.3. Ordinary Regular Members Ordinary Regular Members are those Regular Members who are not classified as Founding, Charter, Senior, Emeritus nor Fellows of PhilRES Local Chapters.

1.b

1.c

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2. Associate Members Associate Members of Local Chapters are the accredited and/or registered professionals in the real estate industry engaged in kindred trades or occupations such as, but not limited to accredited real estate salespersons. An accredited Salesperson is a natural person who performs service for, and in behalf of a real estate broker and who is registered and licensed by the Professional Regulatory Board of Real Estate Service and who have been admitted into the Local Chapter of PhilRES as an Associate Member pursuant to the provisions of Rule 2 Paragraph 2 of PRC Resolution No. 2004-178.

ARTICLE XVI. NATIONAL STANDING COMMITTEES Section 103. The National Standing Committees shall be as follows: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. PhilRES Council of Elders and Advisers; Membership Committee; Chapter Development and Chapter Affairs Committee; Ways and Means Committee; Property Administration and Property Management Committee; Committee on Academe and Continuing Professional Education; Information Technology Committee; Oversight, Vigilance & Enforcement Committee; Mediation, Conciliation and Arbitration Committee; National Committee on Elections (Comelec); Committee on Library, Records and Archives; Committee on Awards; Committee on Review of Laws and By-Laws; Ethics and Discipline Committee; Committee on Protocol and Rules; Taxation & Legislation Committee, Education and Information Committee. Multiple Listing Committee; Committee on International Affairs & Affiliations

All committee members shall be appointed every year by the President except for the members of the PhilRES Council of Advisers whose composition shall be permanent subject to the addition of new permanent. All committee members and new additions to the PhilRES Council of Elders and Advisers shall be confirmed by the National Directorate. Aside from the Standing Committees, there shall be such other committees which may be created by the National Directorate or the Executive Committee only for special or specific purposes. a. Each committee shall be composed of a Chairman, a Vice Chairman, a Secretary, and not more than four (4) members;
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b.

A committee chairman and members of the standing committees shall be recommended by the Executive Trustees, endorsed by the Executive Vice President and appointed by the President, subject to confirmation of the National Directorate; No member of the National Directorate shall be a Chairman or member of any standing committee unless specifically provided for in these By Laws. A National Trustee may however, be appointed Chairman or member of any special or ad hoc committee created by the President.

c.

Section 104. National Committee Meetings and Activities Regular meetings of each committee shall be held at least once every month. Special meetings may also be held. Notices of meetings should be circulated to committee members at least one (1) week prior to the meeting date. National Committee activities shall be coordinated and reported to the Executive Vice President.

Section 105. National Committees Reports Minutes of all regular and special meetings shall be submitted to the PhilRES-National for the information of the national officers and members. All committees shall submit reports of their activities to the National Directorate through the Executive Vice President.

Section 106. Duties and Functions of National Standing Committees All National Standing Committees may at any time propose programs, systems procedures and policies for the smooth and effective operation of PhilRES, PhilRES-National and its Local; Chapters. The duties and functions of Standing Committees are as follows: 1. Chapter Development and Chapter Affairs Committee a. Promotes the objectives of PhilRES through the organization and development of new local Chapters, and; b. Coordinates the preparation of charter requirements and activities with PhilRESNational.

2.

Membership Committee a. Takes charge of all matters concerning membership; b. Effects the registration of all registered and licensed real estate practitioners as members of PhilRES; Maintains an up to date listing of members with their complete personal and professional data;
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c.

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d. e.

Sets up criteria to determine and up-date current membership status; Takes responsibility of authenticating and updating of the PhilRES roster including information and data on each member such as addresses, telephone numbers, good standing status, residence in the organization, and the like, and; Disseminates information, invitations and activities of PhilRES-National to all members especially the Member Emeritus, Honorary Members of the College of Fellows, Senior Members, and the Past Presidents.

f.

3.

Committee on Library, Records and Archives a. Organizes library and archival materials and maintain such for reference of the members, and; b. Receives all archival materials, documents, and the like, for turn over to PhilRES-National.

4.

Committee on Awards a. Prepares programs of incentives in the form of recognition of members; and b. Takes charge of all matters regarding granting of awards and the respective criteria for services rendered to PhilRES and the real estate profession.

5.

Ways and Means Committee a. Studies and recommend an effective program in the collection of dues arid other fees including acceptance of donations and bequeaths; b. Keeps PhilRES in sound financial condition to meet its obligations and finance its projects; and Generates funds for proper implementation of projects subject to the approval of the National Directorate.

c.

6.

Committee on Review of Laws and By-Laws a. Interprets the provisions of By-Laws, existing laws, proposed new laws and recommends amendments and/or suggestions to the By-Laws, existing laws and proposed new laws; b. Provides for referral service concerning these By-Laws;

7.

Information Technology Committee a. Prepares the Filipino real estate professional for globalization by providing the latest information technology tools & trends needed to compete in the global arena;

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b.

Helps make the Filipino real estate professional comfortable with information technology; Addresses the information technology needs of the Filipino real estate professional in the present and the future by providing solutions that are user friendly, affordable and practical.

c.

8.

Ethics and Discipline Committee a. Determines, sets, prescribes, consolidates and recommends the scope, coverage and content of the National Code of Ethics and Responsibilities upon consultation, coordination and recommendation with the different Colleges of Fellows, more specifically: a.1 Real Estate Consultants College of Fellows Committee on Code of Ethics and Responsibilities; Real Estate Appraisers College of Fellows Committee on Code of Ethics and Responsibilities a.2.1 Private Appraisers/Valuers Committee on Code of Ethics and Responsibilities; Government Sector Assessors/Appraisers Committee on Code of Ethics and Responsibilities; Real Estate Brokers College of Fellows Committee on Code of Ethics and Responsibilities; The Ethics and Discipline Committee shall form a separate subcommittee that will handle specific recommendations and suggestions for the Committee on Code of Ethics and Responsibilities for Salespersons and Associate Members. This committee shall be composed of one (1) member each from the: a.4.1 Real Estate Consultants College of Fellows Committee on Code of Ethics and Responsibilities; Private Appraisers/Valuers Committee on Code of Ethics and Responsibilities; Government Sector Assessors/Appraisers Committee on Code of Ethics and Responsibilities; Real Estate Brokers College of Fellows Committee on Code of Ethics and Responsibilities, and; Appoint three (3) representatives from the Associate Members Pool of Nominees representatives to the
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a.2.

a.2.2

a.2.3

a.2.4

a.4.2

a.4.3

a.4.4

a.4.5

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Committee on Code of Ethics and Responsibilities for Salespersons and Associate Members. These three (3) representatives shall be selected by the regular committee members of the Ethics and Discipline Committee from among the Associate Members Pool of Nominees to act as official representatives of their sector and would be allowed to enjoy the right and privilege to vote, make motions or, interpellate any member during committee deliberations of the Committee on Code of Ethics and Responsibilities for Salespersons and Associate Members. b. Invites, coordinates and seeks the recommendations of other allied and kindred organizations to determine, set, prescribe and recommend the scope, coverage and content of the National Code of Ethics and Responsibilities; Promotes and ensures the highest standards of ethical conduct in the practice and service of the real estate profession by adhering and conforming to the National Code of Ethics and Responsibilities as prescribed by the Professional Regulatory Board of Real Estate Service (PRBRES); Continuously endeavours adherence to the National Code of Ethics and Responsibilities, and; Receives endorsements and/or reports from the Oversight, Vigilance & Enforcement Committee and/or from the members or the public complaints of violations of the National Code of Ethics and Responsibilities; Studies and recommends action to the Mediation, Conciliation and Arbitration Committee Commission on Professional Practice on cases involving malpractice and unethical conduct of members.

c.

d.

e.

f.

9.

Committee on Academe and Continuing Professional Education (CPE) a. Implements the CPE Program as required in the R.A, 9646, and its Implementing Rules and Regulations or under any other law that may be passed, covering the practice of the real estate service profession and in support of the CPE Council of the PRC through the PBRES; b. Devises the appropriate systems and procedures necessary to implement the accreditation system and the effective monitoring of CPE compliance by PhilRES, its Local Chapters and/or any of its Kindred Organizations service providers; Undertakes all the necessary steps to ensure that programs are in place for the continuous education of a registered and licensed real estate professionals brought about by modernization, scientific and technological advances; raises and maintains the professional capability in delivering professional services; and

c.

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instils and maintains the highest technical and ethical standards of the practice of the profession; d. Issues the CPE Primer that contain all the information, rules, regulations and policies with respect to CPE and its implementation; and Promotes CPE Program nationwide and shall devise a communication system through which all CPE queries and issues are addressed.

e.

10.

Committee on Protocol and Rules a. Promotes and ensures the highest standards of professional and ethical courtesy, protocol and conduct in PhilRES-National and Local Chapter board meetings as described and recommended in the latest edition of Roberts Rules of Order; b. Promotes and ensures the highest standards of professional and ethical courtesy, protocol and conduct in PhilRES-National and Local Chapter activities and public engagements as described and recommended in the latest edition of Roberts Rules of Order; Continuously endeavours adherence to the Roberts Rules of Order in all PhilRES-National and Local Chapter activities; Receives suggestions, comments and/or reports from the Oversight, Vigilance & Enforcement Committee and/or from other committees, members or the public in order to further improve the standards of protocol in all PhilRES-National and Local Chapter activities; Studies, trains, recommends action and disseminates the latest standards of protocol in all PhilRES-National and Local Chapter activities.

c.

d.

e.

ARTICLE XVII. SPECIAL COMMITTEES Section 107. The National Directorate shall have the power to create and form any special committee or position at any time. This special committee/s or position/s term and tenure shall be set and prescribed by the National Directorate as it may deem fit, necessary and proper for the smooth operation of PhilRES. All Special Committees may at any time propose programs, systems procedures and policies for the smooth and effective operation of PhilRES, PhilRES-National and its Local; Chapters.

Section 108. The special committee created may exist and continue to perform such special functions and responsibilities even beyond the tenure of the National Directorate that created it.

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All person/s serving and performing in such special committee/s or position shall serve in such position for a co-terminus period with that of the term of the Special Committee unless otherwise removed or suspended for cause after due notice and hearing or voluntary resignation.

Section 109. The National Directorate shall confirm all Standing Committee and Special Committee positions as well as all Presidential appointees or designees in such Special Committee positions before such appointees or designees shall be allowed to perform such functions.

ARTICLE XVIII. NATIONAL COMMITTEE on ELECTIONS (Comelec) Section 110. Composition of Members of Comelec There shall be a National Committee on Elections (Comelec), a Standing Committee composed of six (6) regular members and three (3) alternate members that shall be appointed by the President and confirmed by the National Directorate. The regular members of the Comelec shall be appointed by the President from one (1) representative from each of the following Regional Area Jurisdictions NCR1. NCR2, North Luzon, South Luzon, Visayas, and Mindanao. The President may appoint the alternate members of the Comelec from any Regional Area Jurisdiction of his choice. Alternate members may only assume any temporary vacancy in the six (6) member Committee on Elections. 1. Composition. a. The Comelec is composed of the six (6) representatives from each Regional Area Jurisdiction appointed by the President and confirmed by the National Directorate. b. The members of the Comelec shall elect from among themselves their Chairpersons on Accreditation and Canvassing. Incumbent officers and members of the National Directorate or Chapter Board of Trustees are disqualified to be a member of the Comelec.

c.

2.

Functions. The duties and functions of Comelec are as follows: a. Acts as an independent body and shall take charge of all matters concerning elections; b. Directs, supervises and controls the overall conduct of the elections, enforce rules and regulations, directives, orders and instructions;

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c.

Deputizes any member of PhilRES in good standing to act as its agent in the enforcement and implementation of the provisions of these By-Laws; Constitutes Committees under its general administration and supervision of election procedures as follows: d.1 Committee on Accreditation This Committee shall: d.1a. d.1b. be composed of two members and a Chairperson; receive the transmittal of the records of the Members in Good Standing as certified to by the Secretary General and the Treasurer; receive the transmittal of the records of the Members in Good Standing as certified to by the Local Chapter Secretary and the Local Chapter Treasurer; receive the transmittal of the records of the eligible and qualified Local Chapter official nominee representatives to the Roster of Qualified and Eligible Candidates to the National Elections as certified to by the Local Chapter Secretary and the Local Chapter Treasurer; have the power to qualify and disqualify any member of the in accordance with the provisions of these By-Laws.

d.

d.1c.

d.1d

d.1e

d.2

Committee on Canvassing This Committee shall: d.2a. be composed of three (3) members and a Chairperson who must have be a member of the College of Fellows; take charge of the canvassing, counting and tallying of votes; have the authority to validate or invalidate any vote ballots cast in the election; and take charge of preparing the official record of the elections to be submitted to the Secretary General.

d.2b. d.2c.

d.2d.

3.

Term of Office The members of the Comelec shall serve for the period beginning from 120 days prior to the date of any National Election and shall end upon the assumption into office of the trustees-elect.

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4.

The Comelec shall accredit the official eligible representative nominees for each particular elective position from the Local Chapters comprising the Regional Area Jurisdictions from the provinces, first class municipalities and cities as defined in Section 79(2) and Sections 80-85 Article XIII of these By-Laws.

Section 111. At all elections, the Comelec shall accredit the qualified voting members of PhilRES who are Members in Good Standing in coordination with the Treasurer and the Secretary General. The Comelec shall certify who may issue and receive proxies, vote and be voted upon and shall certify the same to the National Directorate. The Comelec shall allow any prospective candidate or nominee to announce his availability to run for or be nominated or appointed in any office, position, regular or special committee and shall prescribe the rules and procedure regarding such acts and activities.

Section 112. The Comelec as a collegiate body shall immediately proclaim the winners of all elections and certify the results of the election to the National Directorate. The Trustees-Elect of the National Directorate shall serve their terms on the following year after their election from January 01 until December 31.

Section 113. Election Protests Any/all election protests must be made formally and in writing not later than fifteen (15) calendar days from the date when the election was held. Formal election protests must clearly cite the reasons for such protests and must be properly supported by evidence. Any member that is the subject of an election protest may not be inducted until such time that the Comelec rules with finality on the merits of the election protest.

Section 114. The members of the Trustees-elect together with the different committees and its respective members shall be formally inducted into office during the General Membership Meeting and Christmas Party which shall be held in the month of December of each calendar year set by the National Directorate.

Section 115. Limitation Upon Members of the Comelec No incumbent Trustee of the National Directorate or National Officer shall serve as member of the Comelec. No member of PhilRES shall serve as member of the Comelec for more than two (2) consecutive terms. All members of the Comelec are disqualified from: a) giving and/or receiving proxies;
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b) being counted as part of the determination of a quorum; c) being nominated; d) voting and being voted upon.

ARTICLE XIX. MEDIATION, CONCILIATION and ARBITRATION COMMITTEE Section 116. Settlement of Disputes among Members There shall be a Mediation, Conciliation and Arbitration Committee which will be tasked to settle disputes between and among different Members, their Patrons, Clients, and the General Public.

Section 117. Exhaustion of Administrative Remedies Except for intra-corporate and criminal complaints, exhaustion of the PhilRES administrative proceedings/remedies is mandatory before elevating any civil action to the Professional Regulatory Board of Real Estate Service or judicial court.

Section 118. Mediation, Conciliation and Arbitration Policies and Procedures The following policies and procedures shall be observed: a) The Complaint must be in verified form and addressed to the National Directorate citing the issues, the nature of the complaint and shall be supported with evidence, if any; b) The Complaint shall also state the prayer to resolve the issue(s) of the complaint; c) The National Directorate shall then endorse the Complaint to the Mediation, Conciliation and Arbitration Committee for appropriate action; d) The Mediation, Conciliation and Arbitration shall request the Respondent(s) to Answer/Comment on the complaint in writing within seven (7) days upon receipt thereof copy furnish Complainant of the Comment/Response; e) If necessary, the Mediation and Arbitration Committee may call the Mediation/Conciliation Conference within five (5) days upon receipt of the Answer/Comment. The conference shall only be attended by the Mediation and Arbitration Committee Members, Complainant and the Respondent. f) Lawyers will not be allowed at all Mediation/Conciliation Conferences; g) If no compromise agreement is achieved after exhausting the Mediation/Conciliation meetings, the Mediation, Conciliation and Arbitration Committee shall render its Resolution on the Complaint within fifteen (15) days upon receipt of the Respondents Answer/Comment copy furnished the parties (Complainant and Respondent); h) Any party who is dissatisfied with the Resolution of the Mediation, Conciliation and Arbitration Committee shall have seven (7) days to appeal the resolution of the
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Mediation, Conciliation and Arbitration Committee to a Special Adjudication Committee of the PhilRES Council of Elders and Advisers. i) The Resolution of the Special Adjudication Committee of the PhilRES Council of Elders and Advisers shall be considered final and executory for purposes of Mediation and Conciliation and its recommendations shall be endorsed to the National Directorate for disposition; j) Any decision, resolution, recommendation or action of the National Directorate can be appealed to the Professional Regulatory Board of Real Estate Service (PRBRES) or appropriate regulatory body.

Section 119. Composition of the Mediation, Conciliation and Arbitration Committee The Mediation, Conciliation and Arbitration Committee shall be composed of seven (7) Regular Members in good standing. Of the seven (7) committee members, the Chairperson and two (2) other members shall be appointed by the President and confirmed by the National Directorate. Both Complainant and Respondent shall be allowed to name two (2) Regular Members in good standing of their choice to the mediation, conciliation and arbitration committee. The two (2) Regular Members of choice of both Complainant and Respondent shall not be contestable for whatever reason other than as to eligibility as Members in Good Standing of PhilRES.

Section 120. Composition of the Special Adjudication Committee of the PhilRES Council of Elders and Advisers The Special Adjudication Committee of the PhilRES Council of Elders and Advisers shall be composed of at least five (5) PhilRES Past National Presidents who are not members of the Mediation, Conciliation and Arbitration Committee, but must be members in good standing and shall serve as the Final Tribunal to settle all controversies among members that cannot be successfully settled at the Mediation, Conciliation and Arbitration Committee. The members of the Special Adjudication Committee shall be composed of the members of PhilRES Council of Elders and Advisers who shall be automatically confirmed by the National Directorate to be the members of the Special Adjudication Committee. The Special Adjudication Committee will be legally assisted by the Board Legal Counsel in all the controversies brought to it for deliberation and disposition.. The Board Legal Counsel shall be an non-voting member of the Special Adjudication Committee but shall be allowed to participate in all its deliberations and his legal advice shall be taken into consideration in disposing of any controversy/ies.

Section 121. Penalties and Sanctions No penalties and sanction shall be meted unless there is compliance of due process. Any member found guilty for violating any provision of these by-laws, the provisions of R. A. 9646,
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and its Implementing Rules and Regulations and other realty laws shall be imposed with the following sanctions: For the 1st Offense For the 2nd violation of the same Offense Reprimand; Suspension of Membership for two (2) months; Suspension of Membership for six (6) months; Expulsion from Membership; Suspension of Membership for six (6) months; Expulsion from Membership.

For the 3rd violation of the same Offense

For the 4th violation of the same Offense For combination of two (2) Offenses

For combination of at least three (3) Offenses

Section 122. Complaints from Non-PhilRES Members All complaints from non-PhilRES members must be in verified form addressed to the National Directorate and must be endorsed by a Regular Member in Good Standing before any complaint from a non-member may be acted upon by the National Directorate for endorsement to the Mediation, Conciliation and Arbitration Committee.

ARTICLE XX. DISCIPLINARY ACTIONS, SUSPENSION, EXPULSION IMPEACHMENT & RECALL Section 123. GROUNDS for DISCIPLINARY ACTIONS, SUSPENSION, IMPEACHMENT and EXPULSION All Members must be of good moral character and shall always act in a generally, morally, legally and socially accepted norms of conduct and behaviour and must not be a cause for embarrassment or public scandal that would affect the interest of PhilRES and/or of any of its members. Any officer, Trustee or member may be suspended, impeached, recalled or expelled from PhilRES only after due notice and hearing, upon recommendation and findings of the Mediation, Conciliation and Arbitration Committee based on any of the following grounds: a) Refusal or neglect to give effect to any lawful decision of PhilRES or the National Directorate; b) Infringement of any provision of these By-Laws, the National Code of Ethics and Responsibilities or any rule or regulation of Phi1RES; c) Any final judgment, civil or criminal, for acts involving moral turpitude, fraud, misrepresentation, cheating or wrongful conversion of property;
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d) Failure to pay his dues for at least three (3) years; e) Loss of his/her membership status; f) Any material non-disclosure or any misrepresentation of facts, details and/or circumstances pertaining to his application with Phi1RES would render the Member in Good Standing status of said member void; g) Performing any act that is deemed an affront to public morals or any act that is generally, widely and socially unacceptable to norms of conduct and behaviour, or any act inimical to the interest of PhilRES and its members. The National Directorate is mandated to act on a Resolution Recommendation for Action or Resolution Recommendation for Dismissal of Complaint by the Mediation, Conciliation and Arbitration Committee within thirty (30) working days from receipt of such written report and recommendation, if not, PhilRES shall lose jurisdiction over the case. The National Directorate may adopt and prescribe additional rules of procedure, not contrary to law, on impeachment and expulsion cases or complaint proceedings brought before it.

Section 124. Suspension of Membership in Good Standing Any member who fails to pay his annual membership due on time shall be considered not to be a Member in Good Standing. Any member who fails to pay any regular or special assessments duly approved by the National Directorate or, such other unpaid obligations to Phi1RES, beyond ninety (90) days upon certification by the Treasurer shall be considered not to be a Member in Good Standing and the change of the members eligibility status shall be recommended to the Committee on Membership for appropriate actions. Any member who is in arrears in the payment of any dues beyond ninety (90) days shall be notified by the Treasurer in writing thru a Notice of Unpaid Obligations informing him that he is not a member in good standing because of his accountability with PhilRES. Such Notice of Unpaid Obligations shall include a demand for payment of his financial obligations immediately from receipt of such notification. Removal of the members good standing status for non-payment of arrears beyond ninety (90) days after due notification as certified to by the Treasurer shall not require prior need to be coursed to the Mediation, Conciliation and Arbitration Committee for enforcement by the Membership Committee.

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ARTICLE XXI. FUNDS and ACCOUNTS Section 125. All monies of Phi1RES shall be deposited in the name of PhilRES in a savings, current or any kind of account with any bank or financial institution to be designated by the National Directorate. The President or Treasurer shall always be a co-signatory for all accounts of PhilRES in any bank or financial institution. The National Directorate shall designate the other alternate signatories in case of the unavailability of the President or Treasurer to sign any withdrawal or disbursement of the funds of PhilRES. No disbursements of PhilRES may be made in cash. All disbursements must bear the full name of the check payee/s. No check disbursements shall be issued indicating BEARER, CASH, and/or BEARER or and/or CASH together with the name of the payee/s. Except for regular administrative expenses which must always bear the certification by the Vice President for Administration in the check voucher request form, No funds of PhilRES will be disbursed without prior approval of the Board including but not limited to salary increases and bonuses of employees/staff.

Section 126. Inspection of Account The books of accounts and records of PhilRES shall be open to inspection by any Regular Member of PhilRES at any time during business hours except Saturdays, Sundays and holidays. Such inspection of books of accounts may only be allowed upon submission of a written request duly submitted to PhilRES Secretariat Office at least ten (10) working days prior to such inspection.

Section 127. Fiscal Management & Control 1. Annual PhilRES National Budget. The PhilRES Annual National Budget for the ensuing year shall be prepared by the incoming Treasurer for presentation to the National Directorate for deliberation, approval and adoption. 2. The Annual National Budget must contain the following information, such as but not limited to: a. b. c. a statement of estimated revenues for the ensuing calendar year; a statement of estimated expenditures for the ensuing calendar year; a comparative statement of last calendar year's annual budget with the ensuing calendar yea/s recommended budget
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3.

Fund Generation The National Directorate may adopt policies related to donations, bequeaths and other contributions, special assessments on its members and other measures to raise funds for approved projects of the national organization based on PhilRES's plans and programs for the calendar year or long-term program/s.

4.

Miscellaneous a. All title to, and interest in, the real, personal, and intangible property of the PhilRES imposed, granted, and conferred by the laws of the Republic of the Philippines and by these By-Laws is vested and shall remain solely in the PhilRES; no member shall have any right, title, or interest in such property at any time; b. Unexpended and unencumbered revenue in a fund at the close of a calendar year shall be used only to further the objectives of the PhilRES, safeguard its future shall never be distributed as dividends or remuneration to any officers and or members; No officer or member or non-member of PhilRES shall have any right, authority or power to expend any money of PhilRES, to incur any liability for and in its behalf, or to make any commitment that will or may be deemed to bind or involve the PhilRES in any expense or financial liability, unless such expenditure, liability or commitment has been authorized and budgeted by the National Directorate or by a specific resolution at a meeting duly called for the purpose, except that the National Directorate may provide for the adjustment and reallocation of accounts within the overall approved budget and for increased expenditures balanced by the increased revenues; PhilRES shall at all times hold full title to, if not majority title and interest in any subsidiary or juridical entity (which in no case shall be less than seventy-five percent [75%] of ownership) that involves the operation and management of any business or non-business activity that involves such as, but not limited to, the operation, appropriation, use and/or utilization of the name, acronym or any intellectual property developed, acquired or granted to PhilRES or operational component or service component of the Philippine Institute of Real Estate Practitioners (PhilRES) Incorporated such as, but not limited to website/s, email address/es, multiple listing services, property listing services, professional bonding or insurance agency operation, online services and any tangible and/or intangible property of PhilRES. To preclude any instance of conflict of interest, PhilRES shall at all times, use and employ only, professional staff and personnel that are not Regular Members of PhilRES in the operational, management and administration facilities and/or activities of PhilRES including those of the National Secretariat Staff and Local Chapter Secretariat Staff. In acquiring real properties and securing loans, the National Directorate shall seek the prior approval by a 2/3 majority vote of the members of the National

c.

d.

e.

f.

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Directorate in a meeting duly called for the purpose of such acquisition of real properties, securing of loans and mortgages. g. If at any time prima facie evidence can be shown by any member regardless of membership status, to the Professional Regulatory Board of Real Estate Service (PRBRES) and/or to the Professional Regulation Commission (PRC) as contained in a verified Petition/Complaint, that funds were released or were being seriously misappropriated or that there exists a serious financial or fiduciary malfeasance, misfeasance or nonfeasance by the members of the National Directorate, the Professional Regulation Commission (PRC) if it deems proper in order to protect the interest of the general membership-at-large of PhilRES, may motu propio, immediately suspend the professional licenses of these members of the National Directorate. Upon suspension of their licenses, the members affected would lose their Member in Good Standing status and therefore ineligible to hold on to their positions and subsequently their positions be automatically declared vacant. h. If the Secretary General is one of those members whose licenses were suspended pursuant to Section 124(4)g Article XX of these By-Laws, the most senior National Administrative Officer of PhilRES-National shall temporarily take-over the day to day affairs and functions of PhilRES-National until a new Secretary General shall have been elected into office. If the majority of the members of the National Directorate is affected by Section 124(4)g Article XX of these By-Laws and therefore there is not enough members to constitute a valid quorum, the remaining members of the National Directorate not affected shall constitute themselves as an Emergency PhilRES Ad Hoc Management Team and conduct the day-to-day affairs and functions of PhilRES-National until a newly elected National Directorate shall have been elected into office to serve the remaining unexpired term of the office or position that they were elected into. The Comelec shall immediately announce and call for a Special General Membership Meeting and Elections for the vacant National Trustee positions affected and shall be held not later than thirty (30) days from the existence of the vacancies.

i.

ARTICLE XXII. EXCLUSIONS and EXCLUSIVITY Section 128. PhilRES is an accredited and integrated national organization of licensed real estate practitioners and professionals, as well as accredited real estate salespersons who are governed, adhere to and abide by a strict code of ethics, responsibilities and professional conduct. As such, exclusivity in the enjoyment of its amenities, functions and privileges to the exclusion of all others, must be maintained and preserved at all times in favour of its members.
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1.

Only Regular Members in Good Standing duly authorized in a formal board resolution by the National Directorate or by their respective Local Chapter Board of Trustees, as applicable, and performing official functions may enter into or sign any engagement or contract with third parties for and in behalf of PhilRES or any of its Local Chapters as applicable. Non-members are explicitly and expressly excluded and barred from being appointed as representatives or attorneys-in-fact of PhilRES or any Local Chapter and sign any engagement or contract with third parties for and in behalf of PhilRES or any of its Local Chapters as applicable, unless explicitly and expressly allowed to do so by a two-thirds (2/3) affirmative vote of the members of the National Directorate. No agreement, engagement or contract with third parties will be honoured by PhilRES that violates this expressed provision of these By-Laws.

2.

3.

Only members, special invited guest/s and paying guests may attend official functions and activities of PhilRES-National or its Local Chapter activities. The interest of members shall always prevail over the interest of non-members, guests or special guests. For incidents involving special guests, utmost care and prudence should be exercised and the strict adherence to rules of protocol must be observed.

4.

Any special invited guest/s and paying guests complained of by any Regular Member or Associate Members as allegedly disturbing any activity/ies or any proceeding/s of PhilRES-National or its Local Chapter shall be immediately barred and prevented from further attending any activity/ies or any proceeding/s of PhilRES-National or its Local Chapters without necessity of providing any proof or basis for such a claim or allegation. Whenever necessary, the offending party or person being complained of shall be escorted out or ejected by force, whenever necessary, or with the assistance of any legitimate security or police authorities from the premises or locality where the activities or proceedings of PhilRES-National or its Local Chapters are being held. Utmost care and prudence should be exercised and the strict adherence to rules of protocol must be observed in effecting these extreme measures.

5.

Absolutely no committee or group identified as emanating from, created by, or sponsored by PhilRES-National or its Local Chapter shall include non-members (including spouses and children of members).

ARTICLE XXIII. RULES OF PROFESSIONAL CONDUCT Section 129. 1. To strengthen the foundation of the real estate service profession in the Philippines, there must be unity of purpose and a clear concept of the duties, obligations and responsibilities of all licensed real estate service professionals other professions, their clients or employer, to their colleagues in the profession, and to the public. These duties,
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obligations and responsibilities include the maintenance of high standards of competence, integrity and most importantly, uprightness, righteousness and morality in their actions and functions. 2. For this purpose, the National Code of Ethics and Responsibilities as adopted and promulgated by the PRBRES as approved by the Professional Regulation Commission (PRC) at any time shall be made as an integral part of these By-Laws to which all members of PhilRES are obligated to abide by and adhere to. Subject to the approval of the National Directorate, the Ethics and Discipline Committee shall establish such rules and regulations as may be necessary to enforce and implement the provision of this Article. Booing, hooting, whistling, shouting or any form of loud vociferous or loud audible sound or annoyingly distracting physical activity that shall disturb the peace and tranquillity of proceedings in any formal meeting or convention shall be considered as a very serious breach of professional etiquette and professional conduct. Upon finding of culpability after due notice and hearing, the offending member shall be meted with severe disciplinary sanctions that carry with it a minimum penalty of suspension as a bona fide member of PhilRES for a minimum period of six (6) months or for a longer period that shall be determined by the competent authority hearing and deciding in such proceedings.

3.

4.

ARTICLE XXIV. INDEMNIFICATION, REIMBURSEMENT and PAYMENT for LEGAL EXPENSES Section 130. Indemnification 1. The National Directorate may establish and implement policies, to the full extent permitted by law, for the payment, reimbursement, indemnification and advance release of monies and funds for the purpose of payment, reimbursement and indemnification of legal expenses of Trustees, officers, committee members and employees of PhilRES who due to the legal exercise of their functions, duties and responsibilities as Trustees, officers, committee members and employees of PhilRES incur, incurred or will incur expenses in connection with an action, suit, or proceedings that they will, or PhilRES will bring forth or will be brought forth or were brought against them. These monies and funds may be released to the affected Trustees, officers, committee members and employees of PhilRES who shall avail of this provision of these By-Laws only under a special proviso and undertaking that requires that they shall immediately reimburse and pay back PhilRES immediately without need for demand when they have been found guilty of any infraction, offence, crime or Illegal administrative act, regardless whether such finding or conviction is final and executory. 2. Indemnification shall extend to all sums paid by the Trustees, officers, committee members and employees of PhilRES in the way of filing fees, certified true copies of records, judgments, amounts paid in settlement, and reasonable expenses (including

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counsel fees) actually and necessarily incurred in connection with the action, suit, or proceeding a Trustee, officer, employee, or committee member of the PhilRES. 3. No money shall be paid by PhilRES under this Section except upon the affirmative vote of a majority of the National Directorate constituting a quorum.

ARTICLE XXV. CALENDAR YEAR Section 131. The calendar year of PhilRES shall begin on the first day of January and shall end on the last day of December of each year.

ARTICLE XXVI. SEAL Section 132. PhilRES shall adopt a seal where it shall be inscribed, PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED - AIPO 2011 -.

ARTICLE XXVII. SEPARABILITY OF PROVISIONS Section 133. Should any provision of these By-Laws or any part thereof be declared invalid or illegal, the other provisions, as they. are separable or are not affected, shall remain in force.

ARTICLE XXVIII. REPEALING CLAUSE Section 134. Except as expressly provided for by these By-Laws, all rules and regulations or parts thereof inconsistent with any provision of these By-Laws and any subsequent provision as provided by law shall be deemed repealed.

ARTICLE XXIX. EFFECTIVITY Section 135. These By-Laws. as hereby adopted, shall take effect immediately upon its approval by the Securities and Exchange Commission.
Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 82 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 83 of 94

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ARTICLE XXX. TRANSITORY PROVISIONS Section 136. Caretaker Officers and Caretaker National Directorate. Prior to its recognition and accreditation by the Professional Regulation Commission (PRC) as the Accredited and Integrated Professional Organization (AIPO) for the Real Estate Service, the Founding Trustees/Incorporators/Interim AIPO Trustees of PhilRES shall be known as the Caretaker National Directorate and shall perform duties and responsibilities as any regularly elected Officers and Members of the Board of Trustees under the Corporation Code. Thereafter, an election among the Members and Trustees of PhilRES shall have to be conducted and those elected shall perform the assigned duties and responsibilities as the Founding AIPO National Officers and National Directorate until the First Regular National Election shall have been called for the purpose of electing the Regular National Officers and National Directorate of PhilRES. Upon election of the Founding AIPO National Officers and National Directorate, the Caretaker National Directorate shall cease to perform their duties and responsibilities immediately. Subsequently, the Caretaker National Directorate of PhilRES shall turn-over to the newly elected and qualified National Officers the duties and responsibilities as National Officers and National Directors of AIPO.

Section 137. The Caretaker National Directorate and/or the Founding AIPO National Officers and National Directorate, as applicable, shall formulate rules and guidelines that will govern and be the basis of calling the First Regular General Membership National Convention and Elections and shall be called on a date and time to be announced by the Caretaker National Directorate and/or the Founding AIPO National Officers and National Directorate, as applicable. This is in conformity with R. A. 9646 and its Implementing Rules and Regulations and PRC Resolution 2004-178.

Section 138. Immediate Organization of Local Chapters Upon Recognition and Approval of PhilRES as AIPO and Announcement of the Holding of the First Regular General Membership National Convention and Elections for National Officers and National Board of Trustees The Founding AIPO National Officers and National Directorate upon the effectivity of its recognition and accreditation as the AIPO, shall formally announce the acceptance of new members and act on applications for accreditation of local chapters on provinces, cities and/or First Class Municipalities. The Founding AIPO National Officers and National Directorate shall assess and evaluate, upon the recommendation of the Membership, Chapter Development and Chapter Affairs Committees, all applications to be accredited as Local Chapters in the provinces, cities or First Class Municipalities. 1. PhilRES shall accept individual applications for membership of eligible applicants who are not yet members of any local chapter. Provided, that these individual applicants applying for membership, shall have all the necessary documentary requirements

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 83 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 84 of 94

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attached in their applications and the payments of the required fees & other assessments in pursuance to Section 139 Article XXX of these By Laws. Upon approval of the individual members to PhilRES, the latter shall assign the new individual members to Local Chapters it deems necessary and proper. These new members may opt to transfer to other Local Chapters of their choice only after the conduct of the First Regular General Membership National Convention and Elections for National Officers and the National Directorate. Applicants for a Local Chapter shall formally communicate its intent to the National Directorate to set-up a New Local Chapter.

2.

Applicants of a Local Chapters shall execute an Unconditional Undertaking to adopt the standard Articles of Incorporation and By-Laws approved by the National Directorate for all Local Chapters of PhilRES with no exceptions thereto whatsoever.

3.

Applicants for Local Chapters must have at least a minimum of fifteen (15) Regular Members, who possess the eligibility qualifications as required in this Transitory Provision and as further provided for in Section 139 Article XXX of the PhilRES By Laws.

4.

Applicants for Local Chapters must submit a duly accomplished and filled-up Members Information Record of the proposed Local Chapter, incorporating therein the photocopies of their valid Certificate of Registration and Professional Identification Card or PRC Certificate of Registration and Professional Identification Card Claim Stub.

5.

Applicants for Local Chapters shall be acted upon and may be approved or denied depending upon the evaluation of the National Directorate and the joint recommendations of the Chapter Development, Chapter Affairs and the Membership Committees.

6.

Applicants for Local Chapters shall pay simultaneously all required dues and fees upon their submission of their applications to form local chapters. Said fees paid to PhilRES are forfeitable in case the application for Local Chapters are denied.

7.

The approved Local Chapter/s shall be registered with the Securities and Exchange Commission (SEC), affixing therein the national associations name as PhilRES-.

8.

This transitory provision for the organization, creation or approval of Local Chapters and acceptance of Regular Members shall commence and be applicable only upon the effectivity of the recognition of PhilRES as the AIPO by the PRC and shall cease thirty (30) days prior to the holding of the First Regular General Membership National Convention and Elections for Officers and the National Directorate.
Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 84 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 85 of 94

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The regular provisions for the organization, creation or approval of Local Chapters and acceptance of Regular Members shall thereafter apply after the holding of the First Regular General Membership National Convention and Elections for Officers and the National Directorate .

9.

After accreditation as the AIPO by PRC, the Founding AIPO National Officers and National Directorate will endeavour to call the First Regular General Membership National Convention and Elections for National Officers and National Directorate within ninety (90) calendar days upon its determination of the existence of the appropriate condition and environment to hold the First Regular General Membership National Convention and Elections for National Officers and National Directorate.

Section 139. Minimum Qualifications of Regular Members Eligible To Be Accepted and Admitted as Regular Members of New Local Chapters as provided for in the Transitory Provisions of Section 138 Article XXX of the PhilRES By Laws The following provisions shall govern the basic eligibility qualification of an applicant for Regular Membership: 1. Those real estate service practitioners who have already signed in the Roster of Registered Professionals with the Professional Regulation Commission (PRC) and those who have already been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Nominations for Officers and National Directorate.

2.

Those persons whose names appear in the list/s of approved applicants for licensing without examinations published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in its official website. Likewise, those who have already signed the Roster of Registered Professionals with the Professional Regulation Commission (PRC) but have not been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Nominations for Officers and National Directorate.

3.

Those examinees whose names appear in the list/s of examinees who successfully passed the licensure examinations for real estate service practitioners published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in its official website. Likewise, those who have signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) and have been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership Nominations for Officers and National Directorate.

4.

Those examinees whose names appear in the list/s of examinees who successfully passed the licensure examinations for real estate service practitioners published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 86 of 94

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its official website. Likewise, those who have signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) but have not been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Nominations for Officers and National Directorate.

5.

The above-enumerated Members must have paid the required Membership Application and Processing Fees and other required fees, dues and assessments to be qualified.

Section 140. Local Chapters & Regular Members In Good Standing Pursuant to the Transitory Provisions in the conduct of the First Regular General Membership National Convention and Elections for National Officers and National Board of Trustees of PhilRES All Local Chapters organized, created or approved prior to the holding of the First Regular General Membership National Convention and Elections pursuant to and consistent with the Transitory Provisions of Section 138 Article XXX and Section 139 Article XXX shall be automatically classified as Local Chapters in Good Standing. Accordingly, all its Founding and Chapter Members shall be automatically classified as Members in Good Standing. Effectivity and implementation of the Provisions of Section 21 Article IV are held in abeyance under the Transitory Provision of Sections 138 & Section 139, Article XXX of PhilRES By Laws.

Section 141. Eligible Nominees For the First Regular General Membership National Convention and Elections of PhilRES PhilRES, the AIPO, will endeavour to call the First Regular General Membership National Convention and Elections for National Officers and National Directorate within ninety (90) calendar days upon its determination of the existence of the appropriate condition and environment to hold the First Regular General Membership National Convention and Elections for National Officers and National Directorate First Regular General Membership National Convention and Elections. All Founding Trustees/Incorporators/Interim AIPO Trustees of PhilRES shall automatically be eligible to be members who can be endorsed as Local Chapter official nominees of the Local Chapter where they are Regular Members. Appointed members of Comelec are disqualified and are not eligible to be a nominee of the Local Chapter where they are Regular Members. All Members in Good Standing of Local Chapters as certified to by the Local Chapter Secretary and approved by the Comelec, pursuant to the Transitory Provisions of Section 140 Article XXX are automatically eligible to be included among the members that can be endorsed as Local Chapter official nominee representatives for submission to and approval by the Comelec. These nominees are eligible to issue and receive proxy/ies. The eligible members of the Local Chapter shall select their official nominees. Said nominees shall be included in the Certified List of Qualified and Eligible Candidates to the National Election. The nomination shall be done by a secret ballot, of the Local Chapter Members in Good Standing.
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 87 of 94

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Only one (1) eligible Local Chapter Member, receiving the highest number of votes cast by secret ballot, of Local Chapter members in good standing, may be nominated for any of the following national elective positions, to wit: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Chairman of the Board; Vice-Chairman of the Board; President; Executive Vice-President; Vice President for Consultants; Vice President for Appraiser; Vice President for Brokers; Vice President for Government Assessors; Vice President for Government Appraisers; Vice President for Treasury; Vice President for Membership; Vice President for Chapter Development & Chapter Affairs; Vice President for Administration; Vice President for Internal Audit; Regional Vice-President; Secretary General;

That thirty (30) calendar days prior to the conduct of the First Regular General Membership National Convention and Elections the Local Chapter Secretary shall submit to Comelec the Certified List of Local Chapter Members in Good Standing who are eligible to become nominees in the respective positions in PhilRES, pursuant to the Transitory Provisions of Section 140 Article XXX of PhilRES By Laws. Of the submitted Certified List of Local Chapter Roster of Qualified and Eligible Candidates to the National Elections Comelec shall evaluate from the list submitted and upon its discretion, to approve or disapprove any nominee endorsed based on qualifications. Upon official announcement by Comelec of the National Roster of Qualified and Eligible Candidates to the National Elections all the eligible nominees listed therein shall become the final and official roster of candidates who will be voted upon by all qualified members. Nominees must be physically present during the election day. The National Roster of Qualified and Eligible Candidates to the National Elections shall be issued and released by the Comelec seven (7) days prior to the holding of the First Regular General Membership National Convention and Elections.

Section 142. Transitory Eligibility Provisions for Regular Members Eligible To Vote, Give Proxy and/or Receive Proxy/ies for the First Regular General Membership National Convention and Elections The First Regular General Membership National Convention and Elections shall be held at a time and place most convenient and practicable to PhilRES and its members as determined by the Founding AIPO National Directorate. At least thirty (30) calendar days prior to the conduct of the First Regular General Membership National Convention and Elections the Local Chapter Secretary shall issue and shall submit to
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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 88 of 94

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Comelec a Certified List of Local Chapter Members in Good Standing With Voting Eligibilities pursuant to the Transitory Provisions of Section 140 Article XXX. The Certified List of Local Chapter Members in Good Standing With Voting Eligibilities shall be subject to the qualification of and approval by the Comelec that shall be eligible to vote, give proxy and/or receive proxy/ies on the day of elections for the First Regular General Membership National Convention and Elections. The consolidated roster of Certified List of Members in Good Standing With Voting Eligibilities per Local Chapter shall be issued and released by the Comelec seven (7) days prior to the holding of the First Regular General Membership National Convention and Elections.

Section 143. Transitory Eligibility Provisions for New Regular Members other than Local Chapter Founding Members To Be Eligible to Vote New Regular Members may be admitted into the New Local Chapters and be eligible to vote, give proxy and/or receive proxy/ies prior to the conduct of the First Regular General Membership National Convention and Elections subject to the provisions contained herein this Section 143 Article XXX. Aside from the payment of the compulsory required membership application fees, membership processing fees, Local Chapter Regular Membership Fees and the National Membership fees, new Regular Member applicants into the newly organized Local Chapters must possess the eligibility qualifications pursuant to Section 19 Article IV of these By Laws except for Paragraph 1 Section 19 Article IV of these By Laws to be accepted and admitted as Regular Members. In lieu of the provisions of Paragraph 1 Section 19 Article IV of these By Laws, the following provisions shall govern the basic eligibility qualification of a Regular Member applicant into the newly organized Local Chapter: 1. Those real estate service practitioners who have already signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) and who have already been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Elections for National Officers and National Directorate and other qualifications as approved by the Comelec.

2.

Those persons whose names appear in the list/s of approved applicants for licensing without examinations published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in its official website who have already signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) but have not been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Elections for National Officers and National Directorate and other qualifications as approved by the Comelec.

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 88 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 89 of 94

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3.

Those persons whose names appear in the list/s of examinees who successfully passed the licensure examinations for real estate service practitioners published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in its official website and have signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) and have been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Elections for National Officers and National Directorate and other qualifications as approved by the Comelec.

4.

Those persons whose names appear in the list/s of examinees who successfully passed the licensure examinations for real estate service practitioners published and/or officially announced by the Professional Regulation Commission (PRC) either in newspapers or in its official website and have signed the Roster of Registered Professionals at the office of the Professional Regulation Commission (PRC) but have not been issued their respective Professional Identification Card (ID) and Certificate of Registration prior to the holding of the First Regular General Membership National Convention and Elections for National Officers and National Directorate and other qualifications as approved by the Comelec.

5.

The Regular Members must have paid their required Membership Application Fees, Processing Fees and National Annual Membership Dues and Local Chapter Annual Membership Dues to be qualified to vote.

At least thirty (30) calendar days prior to the conduct of the First Regular General Membership National Convention and Elections the Local Chapter Secretary shall issue and submit to the Comelec a Certified List of Local Chapter Members in Good Standing With Voting Eligibilities pursuant to the Transitory Provisions of Sections 140-142 Article XXX. The Certified List of Local Chapter Members in Good Standing With Voting Eligibilities shall be subject to the qualification of and approval by the Comelec that shall be eligible to vote, give proxy and/or receive proxy/ies on the day of elections for the First Regular General Membership National Convention and Elections.

Section 144. Comelec shall prescribe and promulgate the rules and procedures that will determine the veracity of documents presented to it, including ascertaining the eligibility of the members of the Local Chapter. These are real estate service practitioners, exercising the right to nominate, to be nominated, to vote and be voted upon and to give and receive proxy/ies as prescribed in the Transitory Provisions of Article XXX. Effectivity and implementation of Section 21(b) Article IV of these By-Laws and Section 93 (1a) Article XIV of PhilRES By-Laws are held in abeyance and will be applicable only after the holding of the Regular Nominations and Elections of Officers and Members of the Board of Trustees of PhilRES which be called by the Interim Board of Trustees.

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 89 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 90 of 94

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Section 145. Effectivity and implementation of Section 21(b) Article IV of these By-Laws is applicable only upon the holding of the Regular Nominations and Elections of Officers and National Directorate of PhilRES in selecting the Local Chapter official nominee for Associate Members. The same shall held in abeyance and the date of the selection of the said Associate Member representative to the Board will be announced by the Interim Board of Trustees.

Section 146. Sections 86 (1 & 2) Article XIV of these By-Laws shall be applicable only upon the holding of Regular Nominations and Election of Officers and the Members of the National Directorate of PhilRES for the calendar 2014 and onwards. Prior to the holding of the Regular Nominations and Election of Officers and Members of the National Directorate of PhilRES for the year 2014, any Regular Members in Good Standing of PhilRES shall be eligible to be endorsed to Comelec for inclusion into the National Roster of Qualified and Eligible Candidates.

Section 147. The observance of the eligibility of candidates on a regional rotation basis requirement is mandatory as prescribed in Section 89 Article XIV of these By-Laws. This is applicable to positions of Chairman and Vice Chairman of the Board of Trustees of PhilRES for the calendar year 2014 and onwards.

Section 148. The observance of the eligibility of candidates on a regional rotation basis requirement is mandatory as prescribed in Section 90 Article XIV of these By-Laws. This is applicable to positions of President and Executive Vice President of PhilRES for the calendar year 2014 and onwards. Prior to the holding of the Regular Nominations and Election of Officers and Members of the National Directorate of PhilRES for the year 2014, any Regular Members in Good Standing of PhilRES shall be eligible to be endorsed to Comelec for inclusion into the National Roster of Qualified and Eligible Candidates to the National Elections as the Local Chapter nominees for election into the position of President and Executive Vice President of the National Directorate of PhilRES.

ARTICLE XXXI. AMENDMENTS of the BY-LAWS Section 149. Amendments These By-Laws, or any provision thereof, may be amended and adopted or repealed by a majority vote of the Members in Good Standing and by a majority vote of the Trustees at any Regular General Membership Meeting or Special General Membership Meeting duly held for the purpose.

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Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 91 of 94

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Adopted this 13th day of May, 2010 in Quezon City, Republic of the Philippines by the affirmative vote of the undersigned members representing a majority of all the Members of PhilRES in Good Standing and the affirmative vote of a majority of the Members of the National Directorate in a meeting duly held for the purpose.

SGD: Pilar Torres-Banaag Trustee/Chairman TIN 120-478-582

SGD: Florentino S. Dulalia, Jr. Trustee/President TIN 165-424-216

SGD: Julius G. Topacio Trustee/Treasurer TIN 111-972-908

SGD: Mario G. Magcalas Trustee/VP Govt Appraisers TIN 138-201-751

SGD: Amelita E. Sarmiento Trustee/Corp. Secretary TIN 142-997-142

SGD: Juan B. Dayag Trustee/VP-Appraisers TIN 250-910-957-010

SGD: Enrico Melchor G. Sevilla Trustee/VP-Consultants TIN 136-387-250

SGD: Marissa P. Magsino Trustee/Public Info. Off. TIN 179-213-354

SGD: Abundio C. Gultiano, Jr. Trustee/VP-Brokers TIN 080-171-980-518

SGD: Mary Gaw So Trustee/VP-Admin TIN 184-874-577

SGD: Genaro N. Flores Trustee TIN 138-052-185

SGD: Ernesto M. Angeles Trustee/VP Finance TIN 145-662-419

SGD: Gener R. Sison Trustee/VP-Govt Assessors TIN 129-094-811

SGD: Nestor P. Quiambao Trustee TIN 130-235-077

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 91 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 92 of 94

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SGD: Nelson E. Parreno Trustee TIN 126-156-321

SGD: Evangeline M. De Jesus Trustee/Asst. Corp, Sec. TIN 129-252-633

SGD: Maria Teresita B. Canlas Trustee TIN 164-955-743

SGD: Joselito C. Caballero Trustee TIN 134-634-816

SGD: Oscar J. Galipot Trustee TIN 131-081-722

SGD: Alejandro S. Manalac Trustee/Asst. Treasurer TIN 136-817-560

SGD: Roche U. Rigos Trustee/VP Membership TIN 147-848-121

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 92 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 93 of 94

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TRUSTEES' CERTIFICATE We, the undersigned, constituting a majority of the members of the National Directorate, and the Corporate Secretary, hereby certify that the foregoing Amended Articles of Incorporation and New By-Laws of the Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated dated 13 July 2011 is a true and correct copy of the Amended Articles of Incorporation and New By-Laws adopted by PhilRES upon the affirmative vote of the 2/3 of the members in good standing and affirmative vote of the majority of the Members of the National Directorate during a joint Regular National Directorate Meeting and Special General Membership Meeting held at 1pm 6 p.m. 13 July 2011 PhilRES Office at #139 Matahimik St., UP Village, Quezon City, Metro Manila 1100, Philippines. IN WITNESS WHEREOF, we have hereunto signed, and the Corporate Secretary has countersigned this Certificate in Quezon City, Metro Manila, Philippines, this 13th day of July 2011.

Pilar M. Torres-Banaag Trustee/Chairman TIN 120-478-582

Gener R. Sison Trustee/President TIN 129-094-811

Mario V. Badillo Trustee/Vice Chairman TIN 140-512-323

Emilie Q. Duterte Trustee/Exec. Vice President TIN 117-757-866

Josefina D. Magumcia Trustee/Corp. Secretary TIN 110-232-180

Amelita E. Sarmiento Trustee TIN 142-997-142

Enrico Melchor G. Sevilla Trustee/VP-Consultants TIN 136-387-250

Marissa P. Magsino Trustee/ TIN 179-213-354

Abundio C. Gultiano, Jr. Trustee/VP-Brokers TIN 080-171-980-518

Evangeline M. De Jesus Trustee TIN 129-252-633

Nestor P. Quiambao Trustee TIN 130-235-077

Nelson E. Parreno Trustee TIN 126-156-321

Maria Teresita B. Canlas Trustee /Trustee TIN 164-955-743

Joselito C. Caballero Trustee TIN 134-634-816


Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 93 of 94

Amended Articles of Incorporation And New By-Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 94 of 94

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Oscar J. Galipot Trustee TIN 131-081-722

Florentino S. Dulalia, Jr. Trustee TIN 165-424-216

Jose Julius M. G. Topacio Trustee TIN 111-972-908

Mario G. Magcalas Trustee/VP Govt Appraisers TIN 138-201-751

Carolina Q. Alvarez Trustee TIN 119-453-928

Remigio C. Ramirez Trustee TIN _____________

Albert D. Mercado Trustee TIN _____________

Certified true and correct: Josefina D. Magumcia TIN 110-232-180 Corporate Secretary

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES ) Quezon City ) BEFORE ME, Notary Public for and in Quezon City, Metro Manila, Philippines, personally appeared Josefina D. Magumcia with TIN 110-232-180 known to me and to me known to be the same person who executed the foregoing Trustees Certificate and acknowledged to me that the same is their own free and voluntary act and deed. WITNESS MY HAND AND SEAL this 13th day of July 2011, at Quezon City, Metro Manila, Philippines. Doc. No. _____ Page No. _____ Book No. _____ Series of 2011

Amended Articles of Incorporation And New By Laws Philippine Institute of Real Estate Service Practitioners (PhilRES) Incorporated 13 July 2011 Page 94 of 94

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