OPERATING RESERVE

The Arizona REALTORS® (“the Association) has an Operating Reserve that can be accessed by Member Boards and REALTORS® needing financial assistance. Requests are initiated primarily through the Member Board where applicable with a recommendation to the Association from the Member Board. Ideally, a Member Board should commit funds or other in-kind services in support of their position, however, that is not a requirement.

The following procedure for legal assistance requests is offered to any requesting party as a guideline for submitting requests to the Association for consideration.

Legal Assistance Request Procedure
Pursuant to the Arizona REALTORS® Bylaws, Article IV, the Association maintains a Legal Reserve Fund. Pursuant to Policy D.2 “One of the purposes of the Operating Reserve fund is to provide legal assistance to Boards and/or REALTORS® where litigation arises that can affect other REALTORS®, Member Boards or the Association.” The following shall be the procedure for submission of any requests for legal assistance.

A. Request financial and other assistance from the Member Board of which the requesting party is a member. The Arizona REALTORS® Executive Committee will be reluctant to provide funding for cases that have not been first considered by the appropriate Member Board.

B. Provide a written statement setting forth the purpose of the request. The written statement must at a minimum address:

1. Why this case is of such a nature as to have an adverse statewide effect on REALTORS®, the Member Board or the Arizona REALTORS® Association

2. The amount requested
3. Any other pertinent information

C. Provide copies of all pertinent pleadings. The following documents should be included with the request, if available and applicable:

1. Complaint

2. Answer
3. Dispositive motions
4. Court Orders
5. Appellate briefs

D. The Executive Committee, with Arizona REALTORS® General Counsel present, shall hear and decide on all requests for legal assistance. The requesting party may be asked to make a presentation about the case to the Executive Committee.