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These Bylaws are for the regulation, except as otherwise provided by statute or its Articles of Incorporation, of the SOUTHWEST RIVERSIDE COUNTY MULTIPLE LISTING SERVICE, INC., a California Corporation ("SRCMLS"), all the shares of stock of which are solely and wholly-owned by the SOUTHWEST RIVERSIDE COUNTY ASSOCIATION OF REALTORS®, which Association is a member of the regional multiple listing service known as MRMLS, Inc.

Table of Contents

ARTICLE I - PURPOSE
Section 1. Authority
Section 2. Purpose
ARTICLE II - OFFICES
Section 1. Powers
Section 2. Other offices
ARTICLE III - DIRECTORS
Section 1. Powers
Section 2. Number and Qualification of Directors
Section 3. Election and Term of Office
Section 4. Vacancies
Section 5. Place of Meeting
Section 6. Organization Meeting
Section 7. Annual and Other Regular Meetings
Section 8. Special Meetings
Section 9. Quorum
Section 10. Waiver of Notice
Section 11. Action Without a Meeting
Section 12. Committees
Section 13. Fees and Compensation
ARTICLE IV - OFFICERS
Section 1. Officers
Section 2. Election
Section 3. Removal
Section 4. Vacancies
Section 5. Duties of the President
Section 6. Vice President
Section 7. Secretary/Treasurer
ARTICLE V- INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOTYEES AND OTHER AGENTS RECORDS AND REPORTS
Section 1. Maintenance and Inspection of Share Register
Section 2. Maintenance and Inspection of Bylaws
Section 3. Maintenance and Inspection of Corporate Records
Section 4. Inspection by the Board of Directors
Section 5. Annual Report to Shareholders
ARTICLE VI - GENERAL CORPOTATE MATTERS
Section 1. Checks, Drafts, Evidences of Indebtedness
Section 2. Corporate Contracts & Instruments
Section 3. Certificate for Shares
Section 4. Construction and Definitions
ARTICELE VII - MULTIPLE LISTING SERVICE RULES
Section 1. Participation and Authorized Access
1.1 Participant
1.1.1 Broker Participant
1.1.2 Appraiser Participant
1.2 Subscriber
1.2.1 Real Estate Subscriber
1.2.2 Appraiser Subscriber
1.3 Notification of Licensees
1.4 Participation Not Transferable
1.5 Listing Broker Defined
1.6 Cooperating Broker Defined
1.7 Appraiser Defined
Section 2. MLS Fees and Charges
2.1 MLS Fee and Charges
2.1.1 Initial Participation and/or Application Fee
2.1.2 recurring Participation Fee
2.1.3 Listing Fee
2.1.4 Computer Access Fees
2.1.5 Certification of Nonuse
2.1.6 Other Fees
2.2 Responsibility of Fees
Section 3. Regional and Reciprocal Agreements
Section 4. Listing Procedures
4.1 Listings Subject to Rules and Regulations of the MLS
4.2 Types of Listings; Responsibility for Classification
4.3 Types of Properties; Responsibility for Classification
4.4 Compliance with California and Federal Law
4.5 Mandatory Submission
4.6 Exempted Listings
4.7 MLS Area
4.8 Change of Listing Information
4.9 Withdrawal of Listing Prior to Expiration
4.10 Contingencies
4.11 Detail on Listings Filed With the MLS
4.12 Unilateral Contractual Offer; Subagency Optional
4.12.1 Offers of Compensation Subject to Lender/Court Approval
4.13 Acceptance of Contractual Offer
4.14 Consent to Act as Dual Agent
4.15 Estate Sale, Probate, Bankruptcy and Lender Approval Listings
4.15.1 Estate Sale, Probate and Bankruptcy Listings
4.15.2 Lender Approval Listings
4.16 Changes to Offer of Compensation By Listing Broker To All Broker Participants
4.17 Broker Participant or Real Estate Subscriber as Principal
4.18 Multiple Unit Properties
4.19 Expiration, Extension, and Renewal of Listings
4.20 Listings of Participants or Subscribers Suspended, Expelled or Resigned
4.20.1 Failure to Pay MLS Fees; Resignation
4.20.2 Violation of MLS Rules
4.21 No Control of Commission Rates or Fees Charged by Participants
4.22 Dual or Variable Rate Commission Arrangements
4.23 Right of Listing Broker and Presentation of Counter Offers
Section 5. Documentation; Permission; Accuracy of Information
5.1 Listing Agreement and Seller's Permission
5.2 Written Documentation
5.3 Accuracy of Information; Responsibility for Accuracy
5.4 Input Defined
5.5 Buyer, Seller, Purchase and Sale Defined
Section 6. Selling Procedures
6.1 Showings and Negotiations
6.2 Disclosing the Existence of Offers
6.3 Availability to Show or Inspect
6.4 Presentation of Offers
6.5 Submission of Offers and Counter-Offers
6.6 Right of Cooperating Broker in Presentation of Offer
6.7 Change of Compensation Offer by Cooperating Broker
6.8 Cooperating Broker as a Purchaser
Section 7. Reporting Sales and Other Information to the MLS
7.1 Reporting of Sales
7.2 Reporting Cancellation of Pending Sale
7.3 Refusal to Sell
Section 8. Ownership of Multiple Listing MLS Compilations and Copyrights
8.1 MLS Compilation Defined
8.2 Active Listing MLS Compilation Defined
8.3 Comparable Data MLS Compilation Defined
8.4 Authority to Put Listings in MLS Compilation
8.5 Photographs on the MLS
8.6 Copyright Ownership
8.7 Leasing of MLS Compilations
Section 9. Prohibitions and Requirements
9.1 Notification of DRE or OREA Action
9.2 Violations of the Law
9.3 Supervision of Licensees and Appraisers
9.4 Misuse of Remarks
9.5 For Sale Signs
9.6 Sold Signs and Use of the Term Sold
9.7 Use of Photographs
9.8 Advertising of Listing Filed with the MLS
9.9 Limitations on Use of Association or MLS Information in Advertising
9.10 False or Misleading Advertising and Representations
9.11 Use of MLS Information
9.12 Confidentiality of MLS Information
9.13 Access to Comparable and Statistical Information
9.14 Display
9.15 Reproduction
9.15.1 Copies to Prospective Purchasers
9.15.2 Information Reproduced
9.15.3 Copies for Appraisals
9.15.4 Downloading into Computers
9.15.5 Sold Information
9.16 Use of Active Listing Information on Internet
9.16.1 Notification by Authorized Participants and Subscribers
9.17 Applicability of Bylaws/MLS Rules to MLS or Association
9.18 Listing Broker's Right to Opt Out of Internet Advertising of MLS Information
Section 10. Standards of Conduct
Section 11. Lockboxes
11.1 Eligibility for Lockboxes
11.2 Key Use and MLS
11.3 Temporary Keys
11.4 Accountability
11.5 Deemed Unaccountable
11.6 Written Authority
11.7 Listing Broker's Permission
11.8 Unaccountable Keys
11.9 Bylaws/MLS Rules Violation
11.10 Right to Limit Access
Section 12. Violations of Bylaws/MLS Rules & Regulations
12.1 Grounds for Disciplinary Action and Sanctions
12.2 Sanctions
12.3 Citations
Section 13. Procedures for Bylaws/MLS Rules Hearing
Section 14. Arbitration
14.1 Mandatory Arbitration
14.2 Other Arbitration Agreements
14.3 Arbitration Between Association Members
14.4 Arbitration Involving Non-association Members
14.5 Same Firm
14.6 Timing
Section 15. Nonpayment of MLS Fees
15.1 Nonpayment of MLS Fees
15.2 Disputed Amounts
15.3 Reinstatement
Section 16. Changes in Bylaws/MLS Rules & Regulations
ARTICLE VIII - DISSOLUTION

ARTICLE I >