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Advisory Council

The AARMR Advisory Council consists of AARMR affiliate members. The purpose of the Advisory Council is to consult, advise and assist the Board of Directors on issues relating to residential mortgage regulation.

The Advisory Council shall take under advisement and consider such issues as the Board of Directors may, from time to time, direct.

Becoming a Member of the Advisory Council:

If you are interested in participating on the AARMR Advisory Council please submit a letter of qualification to the AARMR Board of Directors. Please note the following membership requirements of the Advisory Council, per the AARMR By-Laws, Article VII, Section 7.02. and Section 7.04.


 

Section 7.02. Membership. The Advisory Council shall be comprised of no more than 25 Affiliate Members. Each Advisory Council Member shall appoint a single individual as its designated representative, and may change its designated representative at any time upon written notice to the Board of Directors. Advisory Council Membership resides with the Affiliate Member, is not transferable, and is not retained by an individual independent of his or her designated representative status. Any General Member may recommend an Affiliate Member to serve on the Advisory Council. Such recommendation shall be made to the President, who shall bring the recommendation to the Board of Directors for approval. The Board of Directors shall vote at the Board of Directors meeting occurring at the Corporation's next scheduled annual conference on all such recommendations received since the Corporation's previous annual conference. Advisory Council members shall serve for a two year term. Advisory Council members may serve any number of consecutive two years terms upon approval of the Board of Directors. The members of the Advisory Council shall elect a Chairman who shall report regularly to the Board of Directors. Any member of the Advisory Council may be removed as provided in Section 1.04 above. Any vacancies on the Advisory Council shall be filled by recommendation by a General Member or by the President of the Corporation, with the approval of the Board of Directors. In considering recommendations for Advisory Council membership, the Board of Directors shall assess the candidate's potential to advance the goals, objectives and purposes of the Corporation. In particular, the Board of Directors shall consider whether the candidate:


(A) Contributes to a diversity of points of view;


(B) Is representative of and/or represents the persons and entities
regulated by the General Members;


(C) Possesses special knowledge, insight or skills relevant to the
strategic objectives of the Corporation; and


(D) Represents relevant governmental, industry or other constituencies.

In weighing these factors, the Board of Directors shall ensure that opportunities to serve are extended to those persons and organizations the Board of Directors believes will assist with development of the Corporation's goals, objectives and policies.

Section 7.04. Qualifications. No candidate for Advisory Council membership shall be qualified to serve in such capacity, or stand for election to such post, unless the candidate has been an Affiliate Member in good standing for a minimum of one year prior to such nomination and/or election.