(Revised August 2003)

ARTICLE I: NAME

The name of this organization shall be the Association of University Real Estate Officials (hereinafter “the Association”).

ARTICLE II: PRINCIPAL OFFICE

The principal office of the Association shall be at the business address of the current president of the Association, unless otherwise specified by the Association Membership.

ARTICLE III: PURPOSE

The purpose of the Association shall be to advance by lawful means the common interests of colleges and universities relating to real estate administration, including management, negotiations, leasing, investment, development, acquisition, and disposition.

ARTICLE IV: MEMBERSHIP

Section 4.1. Voting Members. Any college or university or other degree-granting institution of higher education, or a foundation which is directly associated with and supports a college or university or other degree-granting institution of higher education, or public authority whose mission is to support one or more colleges or universities or other degree-granting institutions of higher education in real estate matters (hereafter “college or university”) shall be entitled to become a Voting Member of the Association with full voting and other Voting Membership privileges, provided that:

(4.1.1) the college or university makes formal application for Voting Membership in the form specified by the Members;

(4.1.2) the college or university continues to provide updated information regarding its real estate officials to the Association;

(4.1.3) the college or university is current in its payment of the dues established by the Association;

(4.1.4.) the determination of Voting Membership shall be that of the Association, and such determination will be final and conclusive; and

(4.1.5) each college or university which is a Voting Member will be limited to one vote.

An institution which is not a college or university shall be entitled to be a Voting Member of the Association with all the privileges of other Voting Members upon the two-thirds majority vote of the Voting Members at an Association meeting.

Section 4.2. Representatives of Voting Members. Any employee of a Voting Member may attend meetings of the Association, provided that said employee engages in an aspect of real estate administration, as defined in Article III, on behalf of a Voting Member. Such persons shall be termed Members. An individual who is not otherwise qualified for Membership or Associate Membership in the Association shall be entitled to be a Member of the Association with all the privileges of other Members upon the two-thirds majority vote of the Voting Members at an Association meeting.

Section 4.3. Associate Members. Individuals who have been representatives of Voting Members but who are no longer employed in that capacity or retained by a Voting Member may be named Associate Members of the Association by the officers of the Association, acting as the Executive Committee, and shall continue to be Associate Members of the Association, without vote, as long as they have paid the dues specified in the by-laws of the Association. The Executive Committee shall report at each meeting of the Association of its actions with regard to the designation of Associate Members.

Section 4.4. Attendance. All Members, other employees and representatives of Voting Members, Associate Members and invited guests may attend Association meetings.

ARTICLE V: AMENDMENT

This Constitution may be amended or repealed, in whole or in part, by a majority vote at any meeting of the Association, provided that written notice of the proposed action shall be sent by first-class mail or by electronic media to each Voting Member at least one month prior to the date of the meeting at which the vote on such action is to be taken.

ARTICLE VI: DISSOLUTION

The Association may be dissolved upon the three-fourths majority vote of its Voting Members at any meeting of the Association, provided that written notice of the proposed action shall be sent by first-class mail or by electronic media to each Voting Member at least one month prior to the date of the meeting at which the vote on such action is to be taken. Upon dissolution of the Association and payment of its outstanding liabilities, its assets shall be transferred to an organization or organizations to which contributions are deductible under the United States Internal Revenue Code of 1986, 26 USC Section 170(c)(2), or a successor section.