Rules and Regulations

MLS Operated as a Committee of the

North Central Mississippi Board of REALTORS®

(Adopted March 1996)

(Amended April 2001)

(Amended August 2002)

(Amended February 2003)

(Amended October 2004)

(Amended November 2005)

(Amended August 2006)

DEFINITION OF TERMS

MULTIPLE LISTING SERVICE: The Multiple Listing Service of the North Central Mississippi Board of REALTORS® ("Board") is a facility for the orderly correlation and dissemination of listing information among Participants so they may better serve their clients and customers and the public. The Multiple Listing Service is a means by which authorized Participants make blanket unilateral offers of compensation to other Participants (acting as subagents, buyer agents, or in other agency or non-agency capacities defined by law); by which cooperation among participants is enhanced; by which information is accumulated and disseminated to enable authorized Participants to prepare appraisals; analyses, and other valuations of real property for bona fide clients and customers; by which Participants engaging in real estate appraisal contribute to common databases; and is a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and the public. Entitlement to compensation is determined by the cooperating broker's performance as a procuring cause of the sale (or lease). (Amended 8/06)

PARTICIPATION: "Participation" in the Multiple Listing Service is available to the firm of any Designated REALTOR® Member of this or any other Board of REALTORS® without further qualification except payment of required dues and fees and agreement to abide by these Rules and Regulations. However, under no circumstance is any firm, entitled to MLS "Membership" or "Participation" unless the Participant in that firm, (a) holds a current, valid real estate broker's license and is capable of offering and accepting compensation to and from other Participants, or (b) is licensed or certified by an appropriate state regulatory agency to engage in the appraisal of real property.

PARTICIPANT: The term "Participant" as used herein refers to the Designated Broker. The Participant shall have all rights, benefits and privileges of the Multiple Listing Service, and shall accept all obligations to the MLS. Use of information developed by or published by the Multiple Listing Service is strictly limited to the activities authorized under a Participant's licensure(s) or certification and unauthorized uses are prohibited. Further, none of the foregoing is intended to convey Participation or Membership or any right of access to information developed by or published by the MLS where access to such information is prohibited by law.

SUBSCRIBER or USER: The terms "subscriber" or "user" as used herein are the following persons who are affiliated with a Participant: REALTOR® Members, REALTOR-ASSOCIATE® Members, non-member licensees and licensed or certified real estate appraisers in the Participants firm.

FILED: The term "filed" as used herein refers to input into the computer.

                                                      INTRODUCTION

Every effort must be made to insure that the Member who voluntarily joins the Multiple Listing Service, understands that he or she must be a responsible and ethical real estate practitioner as well as a cooperative competitor and must share in the spirit of fellowship and camaraderie that is necessary to achieve singular success in the real estate field of endeavor. The best interest of the real estate profession must be uppermost in the minds of Participants as any Multiple Listing Service system is only as strong as its weakest Members. This spirit must be imbued in every other Multiple Listing Service Member who is working with another Member using this system.

Therefore, the Multiple Listing Service Committee and the Board of Directors of the North Central Mississippi Board of REALTORS® are pledged to protect the best interests of the Members in devising a system that is in consonance with the policy of the National Association of REALTORS®, the highest ethical standards, and efficient and effective business practices and procedures. Every effort will be made to insure that the lowest possible operating costs will be maintained consistent with the actual costs of operating an up-to-date system and that equitable and reasonable charges of fees are made to all Members who use this system.

Section 1 -- Listing Procedures

Listing Procedures: All listings of real property or personal property of the following types, which are listed subject to a real estate broker’s license, located within the territorial jurisdiction of the Board of Realtors taken by Participants shall be delivered to the Multiple Listing Service within 48 hours (excluding Saturdays, Sundays, and holidays) after all necessary signatures of seller(s) have been obtained: (Amended 11/91)

a) Single family homes for sale or exchange

b) Vacant lots and acreage for sale or exchange

c) Two-family, three-family, and four-family residential buildings for sale or lease

d) Commercial

The Multiple Listing Service shall not require a Participant to submit listings on a form other than the form the Participant individually chooses to utilize provided the listing is of a type accepted by the Service, although a property data form as approved by the Multiple Listing Service is required. However, the Multiple Listing Service, through its legal counsel:

1. May reserve the right to refuse to accept a listing form which fails to adequately protect the interests of the public and the Participants

2. Assure that no listing form filed with the Multiple Listing Service establishes, directly or indirectly, any contractual relationship between the Multiple Listing Service and the client (buyer or seller)

The Multiple Listing Service shall accept exclusive right to sell listing contracts and exclusive agency listing contracts, and may accept other forms of agreement which make it possible for the listing broker to offer compensation to the other Participants of the Multiple Listing Service acting as subagents, buyer agents, or both. (Amended 11/96)

The listing agreement must include the seller’s written authorization to submit the agreement to the Multiple Listing Service. (Amended 11/96)

The different types of listing agreements are:

a) Exclusive right to sell

b) Exclusive agency

c) Open

d) Net

The Service may not accept net listings because they are deemed unethical and, in most states, illegal. Open listings are not accepted except where required by law because the inherent nature of an open listing is such as to usually not include the authority to cooperate and compensate other brokers and inherently provides a disincentive for cooperation. (Amended 4/92)

The exclusive right to sell listing is the conventional form of listing submitted to the Multiple Listing Service in that the seller authorizes the listing broker to cooperate with and to compensate other brokers. (Amended 4/92)

The exclusive agency listing also authorizes the listing broker, as exclusive agent, to offer cooperation and compensation on blanket unilateral bases, but also reserves to the seller the general right to sell the property on an unlimited or restrictive basis.

Exclusive agency listings and exclusive right to sell listings with named prospects exempted should be clearly distinguished by a simple designation such as a code or symbol from exclusive right to sell listings with no named prospects exempted, since they can present special risks of procuring cause controversies and administrative problems not posed by exclusive right to sell listings with no named prospects exempted. Care should be exercised to ensure that different codes or symbols are used to denote exclusive agency and exclusive right to sell listings with prospect reservations. (Amended 4/92)

Types of Properties: Following are some of the types of properties that may be published through the Service, including types described in the preceding paragraph that are required to be filed with the Service and other types that may be filed with the Service at the Participant’s option provided; however, that any listing submitted is entered into within the scope of the Participant’s licensure as a real estate broker: (Amended 11/91)

1. Residential

2. Residential income

3. Subdivided vacant lot

4. Land and ranch

5. Business opportunity

6. Motel-hotel

7. Mobile homes

8. Mobile home parks

9. Commercial income

10. Industrial

Section 1.1 – Listings Subject to Rules and Regulations of the Service: Any listing taken on a contract to be filed with the Multiple Listing Service is subject to the rules and regulations of the Service upon signature of the seller(s).

Section 1.2 – Detail on Listings Filed with the Service: A listing agreement and property data form, when filed with the Multiple Listing Service by the listing broker, shall be complete in every detail as specified on the property data form.

Section 1.3 – Exempted Listings: If the seller refuses to permit the listing to be disseminated by the Service, the Participant may then take the listing ("office exclusive") and such listing shall be filed with the Service but not disseminated to the Participants. Filing of the listing should be accompanied by certification signed by the seller that he/she does not desire the listing to be disseminated by the Service. This letter must be on file with the Service/Board Office within 48 hours of contract signature date. (Amended 10/04)

Section 1.4 – Change of Status of Listing: Any change in listing status or other change in the original listing agreement shall be made only when authorized in writing by the seller and shall be filed with the listing broker within twenty-four (24) hours (except on weekends and holidays) after the authorized change is received by the listing broker. (Amended 10/04)

Section 1.5 -- Withdrawal of Listing Prior to Expiration: Listing of property may be withdrawn from the Multiple Listing Service by the listing broker before the expiration date of the listing agreement, provided notice is filed with the Service, including a copy of the agreement between the seller and the listing broker which authorizes the withdrawal submitted with the listing broker.

Sellers do not have the unilateral right to require an MLS to withdraw a listing without the listing broker’s concurrence. However, when a seller(s) can document that his exclusive relationship with the listing broker has been terminated, the Multiple Listing Service may remove the listing at the request of the seller. (Adopted 11/96)

Section 1.6 – Contingencies Applicable to Listings: Any contingency or conditions of any term in a listing shall be specified and noticed to the Participants in the "Remarks" section of the listing. (Amended 10/04)

Section 1.7 – Listing Price Specified: The full gross listing price stated in the listing contract will be included in the information published in the MLS compilation of current listings. (Amended 11/92)

Section 1.8 – Listing Multiple Unit Properties: All properties which are to be sold or which may be sold separately must be indicated individually in the listing agreement in the MLS. When part of a listed property has been sold, proper notification should be given to the Multiple Listing Service.

Section 1.9 – No control of Commission Rates or Fees Charged by the Participants: The Multiple Listing Service Shall not fix, control, recommend, suggest, or maintain commission rates or fees for the services to be rendered by Participants. Further, the Multiple Listing Service shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants or between Participants and non-participants.

Section 1.10 – Expiration, Extension, and Renewal of Listings: Any listing filed with the Multiple Listing Service automatically expires on the dates specified in the agreement, unless renewed by the listing broker and notice of renewal or extension is filed with the Service prior to expiration. Any extension or renewal of a listing must be signed by the seller(s) and be filed with the Service. If notice of renewal or extension is received after the listing has been removed from the compilation of current listings with thirty (30) days the extension or renewals of listings will be brought back on to market, provided this is a valid extension filed with the listing broker. (Amended 10/04)

Section 1.11 – Termination Date on Listings: Listings filed with the Service shall bear a definite and final termination date, as negotiated between the listing broker and the seller.

Section 1.12 – Jurisdiction: Only listings of the designated types of property located with in the jurisdiction of the Board of Realtors are required to be submitted to the Service. Listings of residential income property, property of a commercial nature or lots and land located outside the Board’s jurisdiction may be accepted if submitted voluntarily by a participant, but cannot be required by the Service.

Section 1.13 – Listings of Suspended Participants: When a participant of the Service is suspended from the MLS for failing to abide by a membership duty (i.e., violation of the Code of Ethics, Board bylaws, MLS rules and regulations, or other membership obligations except failure to pay appropriate dues fees, or charges), all listings currently filed with the MLS by the suspended Participant shall, at the Participants option, be retained in the Service until sold, withdrawn or expired, and shall not be renewed or extended by the MLS beyond the termination date of the listing agreement in effect when the suspension became effective. If a Participant has been suspended from the Board or MLS for failure to pay appropriate dues, fees, or charges, a Board MLS is not obligated to provide MLS services, including continued inclusion of the suspended Participant’s listings in the MLS compilation of current listing information. Prior to any removal of suspended Participant’s listings from the MLS, the suspended participant shall be advised, in writing 48 hours prior to suspension, of the intended removal so that the suspended Participant may advise his clients.

Section 1.14 – Listings of Expelled Participants: When a Participant of the Service is expelled from the MLS for failing to abide by a membership duty (i.e., violation of the Code of Ethics, Board Bylaws, MLS Rules and Regulations, or other membership obligations except failure to pay appropriate dues, fees, or charges), all listings currently filed with the MLS shall, at the suspended or expelled Participant’s option, be retained in the Service until sold, withdrawn, or expired, and shall not be renewed or extended by the MLS beyond the termination date of the listing agreement in effect when the expulsion became effective. If a Participant has been suspended or expelled from the Board or MLS (or both) for failure to pay appropriate dues, fees, or charges, the Board MLS is not obligated to provide MLS services, including continued inclusion of the suspended or expelled Participant’s listings in the MLS compilation of current listing information. Prior to any removal of a suspended or expelled Participant’s listings from the MLS, the suspended or expelled Participant should be advised, in writing, of the intended removal so that the suspended or expelled Participant may advise his clients. (Amended 10/04)

Section 1.15 – Listing of Resigned Participants: When a Participant resigns from the MLS, the MLS is not obligated to provide services, including inclusion of the resigned Participant’s listings in the MLS compilation of current listing information. Prior to any removal of a resigned Participant’s listing from the MLS, the resigned Participant should be advised, in writing, of the intended removal so that the resigned Participant may advise his clients.

Section 2 – Selling Procedures

Showing and Negotiations: Appointments for showings and negotiations with the seller for the purchase of listed property filed with the Multiple Listing Service shall be conducted through the listing broker, except under the following circumstances:

a) The listing broker gives the cooperating broker specific authority to show and/or negotiate directly, or

b) After reasonable effort, the cooperating broker cannot contact the listing broker or his representative; however, the listing broker, at his option, may preclude such direct negotiations by cooperating brokers. (Amended 4/92)

Section 2.1 – Presentations of Offers: The listing broker must make arrangements to present the offer as soon as possible, or give the cooperating broker a satisfactory reason for not doing so. (Amended 4/92)

Section 2.2 – Submission of Written Offers and Counter-Offers: The listing broker shall submit to the seller all written offers until closing unless precluded by law, government rule, regulation, or agreed otherwise in writing between the seller and the listing broker. Unless the subsequent offer is contingent upon the termination of an existing contract, the listing broker shall recommend that the seller obtain the advice of legal counsel prior to acceptance of the subsequent offer. (Approved 11/87)

Participants representing buyers or tenants shall submit to the buyer or tenant all offers and counter-offers until acceptance, and shall recommend that buyers and tenants obtain legal advice where there is a question about whether a pre-existing contract has been terminated. (Amended 8/06)

Section 2.3 – Right of Cooperating Broker in Presentation of Offer: The cooperating broker (subagent or buyer agent) or his representative has the right to participate in the presentation to the seller or lessor of any offer he secures to purchase or lease. He does not have the right to be present at any discussion or evaluation of that offer by the seller or lessor and the listing broker. However, if the seller or lessor gives written instructions to the listing broker that the cooperating broker not be present when an offer the cooperating broker secured is presented, the cooperating broker has the right to a copy of the seller’s written instructions. None of the foregoing diminishes the listing broker’s right to control the establishment of appointments for such presentations. (Amended 4/92)

Section 2.4 – Right of Listing Broker in Presentation of Counter-Offer: The listing broker or his representative has the right to participate in the presentation of any counter-offer made by the seller or lessor. He does not have the right to be present at any discussion or evaluation of a counter-offer by the purchaser or lessee gives written instructions to the cooperating broker that the listing broker not be present when a counter-offer is presented, the listing broker has the right to a copy of the purchaser’s or lessee’s written instructions. (Adopted 11/93)

Section 2.5 – Reporting Sales to the Service: Sales shall be reported immediately to the Multiple Listing Service by the listing broker unless the negotiations were carried on under Section 2(a) or (b) hereof, in which case the cooperating broker shall report, sending a copy to the listing broker within twenty-four (24) hours after acceptance. (Amended 4/92)

Section 2.6 – Reporting Resolutions of Contingencies: The listing broker shall report to the Multiple Listing Service within twenty-four (24) hours that a contingency on file with the Multiple Listing Service has been fulfilled or renewed, or the agreement cancelled.

Section 2.7 – Advertising of Listing Filed with the Service: A listing shall not be advertised by any Participant other than the listing broker without the prior consent of the listing broker.

Section 2.8 – Reporting Cancellation of Pending Sale: The listing broker shall report immediately to the Multiple Listing Service the cancellation of any pending sale, and the listing shall be reinstated immediately.

Section 3 – Refusal to Sell

Refusal to Sell: If the seller of any listed property file with the Multiple Listing Service refuses to accept a written offer satisfying the terms and conditions stated in the listing, such fact shall be transmitted immediately to the Service and to all the Participants via e-mail.

Section 4 – Prohibitions

Information for Participants Only: Any listing filed with the Service shall not be made available to any broker or firm not a Member of the MLS without the prior consent of the listing broker.

Section 4.1 – "For Sale" Signs: Only the "For Sale" sign of the listing broker may be placed on a property. (Amended 11/89)

Section 4.2 – "Sold" Signs: Prior to closing, only the "Sold" sign of the listing broker may be placed on a property, unless the listing broker authorizes the cooperating (selling) broker to post such a sign. (Amended 4/96)

Section 4.3 – Solicitation of Listing Filed with the Service: Participants shall not solicit a listing on property filed with the Service unless such solicitation is consistent with Article 16 of the Realtors’ Code of Ethics, its Standards of Practice, and its Case Interpretations.

Note: This Section is to be construed in a manner consistent with Article 16 of the Code of Ethics and particularly Standard of Practice 16-4. This Section is intended to encourage sellers to permit their properties to be filed with the Service by protecting them from being solicited, prior to expiration of the listing, by brokers and salespersons seeking the listing upon its expiration.

Without such protection, a seller could receive hundreds of calls, communications, and visits from brokers and salespersons who have been made aware through MLS filing of the date the listing will expire and desire to substitute themselves for the present broker.

This Section is also intended to encourage brokers to participate in the Service by assuring them that other Participants will not attempt to persuade the seller to breach the listing agreement or to interfere with their attempts to market the property. Absent the protection afforded by this Section, listing brokers would be most reluctant to generally disclose the identity of the seller or the availability of the property to other brokers.

This Section does not preclude solicitation of listings under the circumstances otherwise recognized by the Standards of Practice related to Article 16 of the Code of Ethics.

Section 5 – Division of Commissions

Compensation Specified on Each Listing: The listing broker shall specify, on each listing filed with the Multiple Listing Service, the compensation offered to other Multiple Listing Service participants for their services in the sale of such listing. Such offers are unconditional except that entitlement to compensation is determined by the cooperating broker’s performance as the procuring cause of the sale (or lease) or as otherwise provided for in this rule. The listing Broker’s obligation to compensate any cooperating broker as the procuring cause of the sale (or lease) may be excused if it is determined through arbitration that, through no fault of the listing agent and in the exercise of good faith and reasonable care, it was impossible or financially unfeasible for the listing broker to collect a commission pursuant to the listing agreement. In such instances, entitlement to cooperative compensation offered through MLS would be a question to be determined by an arbitration hearing panel based on all relevant facts and circumstances including, but not limited to, why it was impossible or financially unfeasible for the listing broker to collect some or all of the commission established in the listing agreement; at what point in the transaction did the listing broker know (or should have known) that some or all of the commission established in the listing agreement might not be paid; and how promptly had the listing broker communicated to cooperating brokers that the commission established in the listing agreement might not be paid. (Amended 11/98)

*Note 1: In filing a property with the Multiple Listing Service of a Board of Realtors, the Participant of the Service is making blanket unilateral offers of compensation to the other MLS Participants, and shall therefore specify on each listing filed with the Service, the compensation being offered to the other MLS Participants. Specifying the compensation on each listing is necessary, because the cooperating broker has the right to know what his compensation shall be prior to his endeavor to sell.** (Amended 11/96)

The listing broker retains the right to determine the amount of compensation offered to other Participants (acting as subagents, buyer agents, or in other agency or non-agency capacities defined by law) which may be the same or different. (Amended 11/96)

This shall not preclude the listing broker from offering any MLS Participant compensation other than the compensation indicated on any listing published by the MLS, provided the listing broker informs the other broker, in writing, in advance of his producing an offer to purchase, and provided that the modification in the specified compensation is not the result of any agreement among all or any other Participants in the Service. Any superseding offer of compensation must be expressed either as a percentage of the gross sales price or as a flat dollar amount. (Amended 11/95)

The Board of Multiple Listing Service shall not have a rule requiring the listing broker to disclose the amount of total negotiated commission in his listing contract, and the Board Multiple Listing Service shall not publish the total negotiated commission on a listing, which has been submitted, to the MLS by a Participant. The Board Multiple Listing Service shall not disclose in any way the total commission negotiated between the seller and the listing broker.

** The compensation specified on listings filed with Multiple Listing Service shall appear in one of two forms. The essential and appropriate requirement by a Board Multiple Listing Service is that the information to be published shall clearly inform the Participants as to the compensation they will receive in cooperative transactions, unless advised otherwise by the listing broker, in writing, in advance, of his producing an offer to purchase. The compensation specified on listings published by the MLS shall be shown in one of the following forms:

1. by showing a percentage of the gross selling price

2. by showing a definite dollar amount (Amended 11/95)

*Note 2: The listing broker may, from time to time, adjust the compensation offered to other Multiple Listing Service Participants for their services with respect to any listing by advance published notice to the Service so that all Participants will be advised. (Amended 4/92)

*Note 3: The Multiple Listing Service shall make no rule on the division of commissions between Participants and non-participants. This should remain solely the responsibility of the listing broker.

*Note 4: Multiple Listing Services, at their discretion, may adopt rules and procedures enabling listing brokers to communicate to potential cooperating brokers that gross commissions established in listing contracts are subject to court approval or to lender approval; and that compensation payable to cooperating brokers may be reduced if the gross commission established in the listing contract is reduced by a court or a lender. In such instances, the fact that the gross commission is subject to court or to lender approval and either the potential reduction in compensation will be calculated must be clearly communicated to potential cooperating brokers prior to the time they produce an offer that ultimately results in a successful transaction. (Adopted 11/98)

*Note 5: Nothing in these MLS rules precludes a listing participant and a cooperating participant, as a matter of mutual agreement, from modifying the cooperative compensation to be paid in the event of a successful transaction. (Adopted 8/06)

Section 5.1 -- Participant as Principle: If a participant or any licensee (or licensed or certified appraiser) affiliated with a Participant has any ownership interest in a property, the listing of which is to be disseminated through the Multiple Listing Service, that person shall disclose that interest when the listing is filed with the Multiple Listing Service and such information shall be disseminated to all Multiple Listing Services Participants.

Section 5.2 -- Participant as Purchaser: If a participant or any licensee (including licensed and certified appraisers) affiliated with a Participant wishes to acquire an interest in property listed with another Participant, such contemplated interest shall be disclosed, in writing, to the listing broker not later than the time an offer to purchase is submitted to the listing broker. (Adopted 2/92)

Section 5.3 -- Dual or Variable Rate Commission Arrangements: The existence of a dual or variable rate commission arrangement (i.e., one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker without assistance and a different commission if the sale/lease results through the efforts of a cooperating broker; or one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker either with or without the assistance of a cooperating broker and a different commission if the sale/lease results through the efforts of a seller/landlord) shall be disclosed by the listing broker by a key, code, or symbol as required by the MLS. The listing broker shall, in response to inquiries from potential cooperating brokers, disclose the differential that would result in either a cooperative transaction or, alternatively, in a sale/lease that results through the efforts of the seller/landlord. If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative must disclose such information to their client before the licent makes an offer to purchase or lease. (Amended 1/02)

Section 6 -- Service Charges

Service Fees and Charges: The following service charges for operation of the Multiple Listing Service are in effect to defray the costs of the Service and are subject to change from time to time in the manner prescribed.

a) Initial Participation Fee: An applicant for participation in the Service who is a member in good standing of the North Central Mississippi Board of REALTORS® shall pay an application fee in an amount equal to $250.00 times each salesperson and licensed or certified appraiser who has access to and use of the Service, whether licensed as a broker, sales licensee, or licensed certified appraiser who is employed by or affiliated as an independent contractor with such Participant with such fee to accompany the application. An applicant for participation in the Service who is not a member of the North Central Mississippi Board but rather is a member in good standing of another Board of REALTORS® shall pay an application fee in an amount equal to $275.00 times each salesperson and licensed or certified appraiser who has access to and use of the Service, whether licensed as a broker, sales licensee, or licensed certified appraiser who is employed by or affiliated as an independent contractor with such Participant with such fee to accompany the application. If additional salespersons or appraisers should become employed by or affiliated as an independent contractor with such Participant, an amount equal to the application fees in effect at the time of said employment/affiliation shall be paid prior to that employee’s/affiliate’s being granted access to the Service. Any Participant not notifying the Service that additional employees/affiliates have joined Participant will be subject to having access to the Service terminated. Initial Participation Fee is non-refundable. (Amended 11/05)

b) Recurring Participation Fee: The monthly participation fee of each NCMBR Member Participant who is a member in good standing of the North Central Mississippi Board of REALTORS® shall be an amount equal to $15.00 times each salesperson and licensed or certified appraiser who has access to and use of the Service, whether licensed as a broker, sales licensee, or licensed certified appraiser who is employed by or affiliated as an independent contractor with such Participant. The monthly participation fee of each non-NCMBR Member Participant shall be an amount equal to $25.00 times each salesperson and licensed or certified appraiser who has access to and use of the Service, whether licensed as a broker, sales licensee, or licensed certified appraiser who is employed by or affiliated as an independent contractor with such Participant. This shall be non-refundable except for death. (Amended 11/05)

c) Subscription fees: One complete set of current listings for each individual, employed by or affiliated as an independent contractor (including licensed or certified appraisers) with the NCMBR Participant who has access to and use of the Service may be supplied to the Participant upon payment of the application fee and the Participant shall be responsible for a subscription fee of $75 for each additional set of listings that is supplied to each individual employed by or affiliated as an independent contractor (including licensed or certified appraisers) with the Participant. Subscription fees for non-NCMBR member Participants shall be $100 for each additional set of listings that is supplied to each individual employed by or affiliated as an independent contractor (including licensed or certified appraisers) with such Participant.

 Affiliated unlicensed administrative and clerical staff, personal assistants, and/or individuals seeking licensure or certification as real estate appraisers among those eligible for access to and use of MLS information as "subscribers" may be included in the computation of MLS fees and charges. (Adopted 4/92)

Section 6.1. BILLING: The Participant and individual licensee subscribers will normally be billed quarterly, in advance, for participation. (Adopted 10/04)

Section 6.2. DELINQUENCY IN FEES/CHARGES PAYMENT: The Quarterly MLS Fees is due by the 10th day of the invoicing month. Subscribers who pay their fees after the 10th day shall pay a 1.5% late fee per month on the unpaid balance. For failure to pay any fees and/or charges within 20 days of the invoicing month, the Participant’s service, which means all MLS services to the office shall be suspended until fees and/or charges are paid in full. (Adopted 10/04)

Section 6.3. SUSPENSION OF SERVICE FOR NON-PAYMENT: Suspension of service for non-payment will result in the office name being deleted from the MLS data base and roster; existing listings will be deleted from the system, not listings will be accepted for filing in the MLS. Upon reinstatement, deleted listings will be re-entered be the responsibility of the Participant. (Adopted 10/04)

Non-Payment of Subscriber Fees

Any Participant (Broker) who has MLS service discontinued one time due to non-payment of monthly recurring fees must pay all MLS fees in advance. For the first reconnection, the required amount of advance payment will be any past due amounts (including collection fees) due and payable plus an amount equivalent to three months of fees, which would normally be due on a monthly basis for that office. Once the payment has been received and credited to the appropriate account, the Participant will be reinstated for a three-month period.

Prior to the expiration of advance-paid fees, the Participant must pay in advance for the next three-month period to avoid having MLS service discontinued again. After one year of satisfactory advance payments, the Participant may resume being billed monthly and may continue in this manner as long as monthly payments are received as scheduled.

Any Participant who has MLS service discontinued a second time for non-payment of fees will be required to pay, prior to being reinstated, all MLS service fees in advance. An equivalent of three months of fees must be paid prior to reconnection; participant must pay each subsequent three-month period prior to the end of the current pre-paid period, and may not resume being billed on a monthly basis. (Amended 11/05)

Section 6.4. BAD CHECK POLICY: If a check is returned by the Participant’s financial institute marked insufficient funds, a charge of $30.00 will be made for the first offense within a calendar year, a $50.00 charge for the second returned check, and thereafter payment must be either in cash or cashier’s check. (Adopted 10/04)

Section 7 - Compliance with Rules

Compliance with Rules: For failure to abide by these MLS Rules and Regulations and any violations within a quarter, the following sanctions may be imposed for non-compliance. (Amended 10/04)

1st Offense – A warning issued to Participant that offense has occurred and that additional sanctions will be imposed if failure to comply with the rules is not corrected within one (1) business day. For repeat offenses by the same agency in a four-month period, no warning call is warranted.

2nd Offense - $50.00 fine and Participant and/or subscriber will appear before the MLS Committee. Failure to appear before the MLS Committee will lead to suspension of service and additional fines and sanctions will be determined by the MLS Committee and Board of Directors.

^{3rd Offense and Subsequent Office} - $100.00 fine levied against Participant and mandatory sixty (60) day suspension.

4th Offense within any four-month period will result in Participant and all affiliated subscribers being suspended from access to and use of the MLS service for a period of up to 60 days.

Any listings which does not fulfill the minimum requirements of the service, or contains false or misleading information, may be deleted from the service with approval by a majority vote of the MLS committee and with 24 hours notice to Participant.

For more than four (4) sanctions in any three (3) month period the violation will be submitted to the MLS committee for possible additional sanctions including possible suspension of services as outlined under Section 9.

For failure to pay any sanctions levied under Section 7 or 9 within 24 working business hours the service shall be suspended for sixty (60) days unless notification in advance must be approved by the MLS Committee.

For failure to comply within the 60 days of the sanctions will result in your membership being reviewed by the Board of Directors.

Violation of Rules and Regulations includes, but is NOT limited to:

1. • Failure to provide complete and accurate information on any MLS listing.

2. • Failure to complete any required MLS mandatory fields with accurate information.

3. • Failure to timely file any listing with the service as required in Section 1.

4. • Failure to submit a photo on any listing with improved property that covers no less that 75% of the allowed space. Photo must be submitted within 48 hours of filing with the services. The Photo can not have your company sign in it.

5. • For entering incorrect or inappropriate information in the "Agent News" section on the Bulletin Board.

6. • For entering information into the Remarks section of the MLS that would reveal the name, address, phone or other contact information on the listing agent or office as outlined in Section 18.3.8.

7. • For failure to report to the MLS that a new licensee has been hired by the participant.

8. • For failure to notify the MLS within twenty-four (24) hours upon termination/resignation of the employee or licensee who has been issued a Login ID and password.

For failure to comply with any other rule, the provisions of Section 9 will apply.

Section 7.1 - Applicability of Rules to Users and/or Subscribers: Non-principal brokers, sales licensees, appraisers, and others authorized to have access to information published by the MLS are subject to these rules and regulations and may be disciplined for violations thereof provided that the user or subscriber has signed an agreement acknowledging that access to and use of MLS information is contingent on compliance with the rules and regulations. Further, failure of any user or subscriber to abide by the rules and/or any sanction imposed for violations thereof can subject the Participant to the same or other discipline. This provision does not eliminate the Participant’s ultimate responsibility and accountability for all users or subscribers affiliated with the Participant. (Adopted 4/92)

Section 8 - Meetings

Meetings of MLS Committee: The Multiple Listing Service Committee shall meet for the transaction of its business on the first Wednesday of each month, if necessary, at a time and place to be determined by the committee, or at the call of the Chairperson. (Amended 11/05)

Section 8.1 - Meetings of MLS Participants: The committee may call meetings of the Participants in the Service to be known as meetings of the Multiple Listing Service.

Section 8.2 - Conduct of the Meetings: The chairperson or Vice Chairperson shall preside at all meetings or, in their absence, a temporary Chairperson from the membership of the Committee shall be named by the Chairperson or, upon his failure to do so, by the committee.

Section 9 - Enforcement of Rules or Disputes

Listings must be completely filled out, legible, and must have a photograph that covers no less than 75% of the allowed space; furnished within 48 hours from the time the listing Broker receives the listing, to the MLS. If any listing is discovered to be incomplete, it shall immediately be rejected by the MLS and returned to the Broker. MLS reserves the right to charge a fee to resubmit this listing. Subdivision or commercial lots (multiple) shall have lot numbers placed on the lots for ease of identification. (Amended 11/05)

Section 9 of the Rules and Regulations covers sanctions and procedure for hearing requests as a result of such sanctions. Furthermore, the North Central Mississippi Board of REALTORS^{® may impose sanctions, including but not limited to: a written reprimand being placed in the agent’s personal file; a fine to be determined by the MLS committee Hearing Panel (not to exceed $5,000) and deposited in the MLS account; a levy of fees for administrative costs; suspension of the Broker (Participant) and all affiliated subscribers from using the MLS for up to 60 days or permanent suspension of the Participant from the Multiple Listing Service. (Amended 11/05)}

Consideration of Alleged Violations: The Committee shall give consideration to all written or otherwise appropriately reported complaints having to do with violations of the rules and regulations. (Amended 2/98)

Section 9.1 - Violations of Rules and Regulations: If the alleged offense is a violation of the rules and regulations of the Service and does not involve a charge of alleged unethical conduct or request for arbitration, a hearing will be held by a Hearing Panel comprised of members of the Multiple Listing Service Committee, and, if a violation is determined, the Hearing Panel may direct the imposition of sanction. The recipient of such sanction may request an appeal before the Board of Directors of the Board of REALTORS® within twenty (20) days of the tribunal’s decision being rendered. (Amended 2/03)

Section 9.2 - Complaints of Unethical Conduct: All other complaints of unethical conduct shall be referred by the Committee to the AE of the Board of REALTORS® for appropriate action in accordance with the professional standards procedures established in the Board’s bylaws. (Amended 11/88)

Section 10 - Confidentiality of MLS information

Confidentiality of MLS Information: Any information provided by the Multiple Listing Service to the Participants shall be considered official information of the Service. Such information shall be considered confidential and exclusively for the use of Participants and real estate, licensees affiliated with such Participants and those Participants who are licensed or certified by an appropriate state regulatory agency to engage in the appraisal of real property and licensed or certified appraisers affiliated with such Participants. (Amended 4/92)

Section 10.1 - MLS not Responsible for Accuracy of Information: The information published and disseminated by the Service is communicated verbatim, without change by the Service, as filed with the Service by the Participant. The Service does not verify such information provided and disclaims any responsibility for its accuracy. Each Participant agrees to hold the Service harmless against any liability arising from any inaccuracy or inadequacy of the information such Participant provides.

Section 11 - Ownership of MLS Compilation* and Copyright

By the act of submitting any property listing data to the Board MLS the Participant represents that he has been authorized to grant and also thereby does grant authority for the Board to include the property listing data in its copyrighted MLS compilation and also in any statistical report on comparables.

*The term "MLS compilation," as used in Sections 11 and 12 herein, shall be construed to include any format in which property listing data is collected and disseminated to the Participants, including but not limited to bound book, loose-leaf binder, computer database, card file, or any other format whatever.

Section 11.1 - All right, title, and interest in each copy of every Multiple Listing compilation created and copyrighted by the North Central Mississippi Board of REALTORS® and in the copyrights therein, shall at all times remain vested in the North Central Mississippi Board of REALTORS®.

Section 11.2 - Each Participant shall be entitled to lease from the North Central Mississippi Board of REALTORS® a number of copies of each MLS compilation sufficient to provide the Participant and each person affiliated as a licensee (including licensed or certified appraisers) with such Participant with one copy of such compilation. The Participant shall pay for each such copy the rental fee set by the Board. **

Participants shall acquire by such lease only the right to use the MLS compilation in accordance with these rules.

** This section should not be construed to require the Participant to lease a copy of the MLS compilation for any licensee (or licensed or certified appraiser) affiliated with the Participant who is engaged exclusively in a specialty of the real estate business other than listing, selling, or appraising the types of properties which are required to be filed with the MLS and who does not, at any time, have access to or use of the MLS information or MLS facility of the Board.

Section 12 - Use of Copyrighted MLS Compilation

Distribution: Participants shall, at all times, maintain control over and responsibility for each copy of any MLS compilation leased to them by the Board of REALTORS® and shall not distribute any such copies to persons other than subscribers who are affiliated with such Participant as licensees, those individuals who are licensed or certified by an appropriate state regulatory agency to engage in the appraisal of real property, and any other subscribers as authorized pursuant to the governing documents of the MLS. Use of the information developed by or published by a Board Multiple Listing Service is strictly limited to the activities authorized under a Participant’s licensure(s) or certification, and unauthorized uses are prohibited. Further, none of the foregoing is intended to convey "Participation" or "Membership" or any right of access to information developed or published by a Board Multiple Listing Service where access to such information is prohibited by law. (Amended 4/92)

Section 12.1 - Display: Participants and those persons affiliated as licensees with such Participants shall be permitted to display the MLS compilation to prospective purchasers only in conjunction with their ordinary business activities of attempting to locate ready, willing, and able buyers for the properties described in said MLS compilation.

Section 12.2 - Reproduction: Participants or their affiliated licensees shall not reproduce any MLS compilation or any portion thereof, except in the following limited circumstances:

Participants or their affiliated licensees may reproduce from the MLS compilation and distribute to prospective purchasers a reasonable* number of single copies of property listing data contained in the MLS compilation which relate to any properties in which the prospective purchasers are or may, in the judgment of the Participants or their affiliated licensees, be interested.

Nothing contained herein shall be construed to preclude any Participant from utilizing, displaying, distributing, or reproducing property listing sheets or other compilations of data pertaining exclusively to properties currently listed for sale with the Participant.

Any MLS information, whether provided in written or printed form, provided electronically, or provided in any other form or format, is provided for the exclusive use of the Participant and those licensees affiliated with the Participant who are authorized to have access to such information. Such information may not be transmitted, retransmitted, or provided in any manner to any unauthorized individual office or firm.

None of the foregoing shall be construed to prevent any individual legitimately in possession of current listing information, sold information, comparables, or statistical information from utilizing such information to support an estimate of value on a particular property for a particular client. However, only such information that a Board or Board-owned Multiple Listing Service has deemed to be non-confidential and necessary to support the estimate of value may be reproduced and attached to the report as supporting documentation. Any other use of such information is unauthorized and prohibited by these rules and regulations.

*It is intended that the Participant be permitted to provide prospective purchasers with listing data relating to properties which the prospective purchasers has a bona fide interest in purchasing or in which the Participant is seeking to promote interest. The term reasonable, as used herein, should therefore be construed to permit only limited reproduction of property listing data intended to facilitate the prospective purchaser’s decision-making process in the consideration of a purchase. Factors which shall be considered in deciding whether the reproductions are made are consistent with this intent and thus reasonable in number, shall include, but are not limited to, the total number of listings in the MLS compilation, how closely the types of properties contained in such listings accord with the prospective purchaser’s expressed desires and ability to purchase, whether the reproductions were made on a selective basis, and whether the type of properties contained in the property listing data is consistent with a normal itinerary of properties which would be shown to the prospective purchaser.

Section 13 – Use of MLS Information

Limitations on Use of MLS Information: Information from MLS compilations of current listing information, from statistical reports, and from any sold or comparable report of the Board or MLS may be used by MLS Participants as the basis for aggregated demonstrations of market share or comparisons of firms in public or mass-media advertising or in other public representations. This authority does not convey the right to include in any such advertising or representation information about specific properties which are listed with other Participants, or which were sold by other Participants (as either listing or cooperating broker).

However, any print or non-print forms of advertising or other forms of public representations based in whole or part on information supplied by the Board or its MLS must clearly demonstrate the period of time over which such claims are based and must included the following or substantially similar, notice:

"Based on information from the NCMBR MLS for the period (date) through (date)." (Adopted 11/97)

Section 14 – Changes in Rules and Regulations

Changes in Rules and Regulations: Amendments to the rules and regulations of the Service shall be by a majority (51%) vote of the Members of the Multiple Listing Service Committee, subject to approval by the Board of Directors of the Board of REALTORS®.

Section 15 - Arbitration of Disputes

Arbitration of Disputes: By becoming and remaining a Participant, each Participant agrees to arbitrate disputes involving contractual issues and questions, and specific non-contractual issues and questions defined in Standard of Practice 17-4 of the Code of Ethics with MLS Participants in different firms arising out of their relationships as MLS Participants, subject to the following qualifications. (Amended 11/97)

(a) If all disputants are members of the same Board of Realtors® or have their principal place of business within the same Board’s territorial jurisdiction, they shall arbitrate pursuant to the procedures of that Board/Association of Realtors®.

(b) If the disputants are members of different Boards of Realtors® or if their principal place of business is located within the territorial jurisdiction of different Boards of Realtors®, they remain obligated to arbitrate in accordance with the procedures of the Mississippi Association of Realtors®.

Interboard Arbitration Procedures: Arbitration shall be conducted in accordance with any existing interboard agreement or, alternatively, in accordance with the Interboard Arbitration Procedures in the Code of Ethics and Arbitration Manual of the National Association of Realtors®. Nothing herein shall preclude Participants from agreeing to arbitrate the dispute before a particular Board/Association of Realtors®. (Amended 11/98)

Section 16—Standards of Conduct for MLS Participants

Section 16.1—MLS Participants shall not engage in any practice or take any action inconsistent with the agency or other exclusive relationship recognized by law that other MLS Participants have with clients. (Amended 1/98)

Section 16.2—Signs giving notice of property for sale, rent, lease, or exchange shall not be placed on property without consent of the seller/landlord.

Section 16.3—MLS Participants acting as subagents or as buyer/tenant agents or brokers shall not attempt to extend a listing broker’s offer of cooperation and/or compensation to other brokers without the consent of the listing broker. (Amended 1/98)

Section 16.4—MLS Participants shall not solicit a listing currently listed exclusively with another broker. However, if the listing broker, when asked by the MLS Participant, refuses to disclose the expiration date and nature of such listing (i.e., an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client) the MLS Participant may contact the owner to secure such information and may discuss the terms upon which the MLS Participant might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing.

Section 16.5—MLS Participants shall not solicit buyer/tenant agreements from buyers/tenants who are subject to exclusive buyer/tenant agreements. However, if asked by an MLS Participant, the broker refuses to disclose the expiration date of the exclusive buyer/tenant agreement, the MLS Participant may contact the buyer/tenant to secure such information and may discuss the terms upon which the MLS Participant might enter into a future buyer/tenant agreement or, alternatively, may enter into a buyer/tenant agreement to become effective upon the expiration of any existing exclusive buyer/tenant agreement. (Amended 1/98)

Section 16.6—MLS Participants shall not use information obtained from listing brokers through offers to cooperate made through multiple listing services or through other offers of cooperation to refer listing brokers’ clients to other brokers or to create buyer/tenant relationships with listing brokers’ clients, unless such use is authorized by listing brokers. (Amended 11/01)

Section 16.7—The fact that an agreement has been entered into with an MLS Participant shall not preclude or inhibit any other MLS Participant from entering into a similar agreement after the expiration of the prior agreement. (Amended 1/98)

Section 16.8—The fact that a client has retained an MLS Participant as an agent or in another exclusive relationship in one or more past transactions does not preclude other MLS Participants from seeking such former client’s future business. (Amended 1/98)

Section 16.9—MLS Participants are free to enter into contractual relationships or to negotiate with sellers/landlords, buyers/tenants or others who are not subject to an exclusive agreement but shall not knowingly obligate them to pay more than one commission except with their informed consent. (Amended 1/98)

Section 16.10—When MLS Participants are contacted by the client of another MLS Participant regarding the creation of an exclusive relationship to provide the same type of service, and MLS Participants have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration of any existing exclusive agreement. (Amended 1/98)

Section 16.11—In cooperative transactions, MLS Participants shall compensate cooperating MLS Participants (principal brokers) and shall not compensate nor offer to compensate, directly or indirectly, any of the sales licensees employed by or affiliated with other MLS Participants without the prior express knowledge and consent of the cooperating broker.

Section 16.12—MLS Participants are not precluded from making general announcements to prospective clients describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another MLS Participant. A general telephone canvass, general mailing, or distribution addressed to all prospective clients in a given geographical area or in a given profession, business, club, or organization, or other classification or group is deemed "general" for purposes of this rule. (Amended 1/98)

The following types of solicitations are prohibited:

Telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation, or other information service as having exclusively listed their property with another MLS Participant; and mail or other forms of written solicitations of prospective clients whose properties are exclusively listed with another MLS Participant when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings, "for sale" or "for rent" signs, or other sources of information intended to foster cooperation with MLS Participants.

Section 16.13—MLS Participants, prior to entering into an agency agreement or other exclusive relationship, have an affirmative obligation to make reasonable efforts to determine whether the client is subject to a current, valid exclusive agreement to provide the same type of real estate service. (Amended 1/98)

Section 16.14—MLS Participants, acting as agents of, or in another relationship with, buyers or tenants, shall disclose that relationship to the seller/landlord’s agent or broker at first contact and shall provide written confirmation of that disclosure to the seller/landlord’s agent or broker not later than execution of a purchase agreement or lease. (Amended 1/98)

Section 16.15—On unlisted property, MLS Participants acting as buyer/tenant agents or brokers shall disclose that relationship to the seller/landlord at first contact for that client and shall provide written confirmation of such disclosure to the seller/landlord not later than execution of any purchase or lease agreement. (Amended 1/98)

MLS Participants shall make any request for anticipated compensation from the seller/landlord at first contact.

Section 16.16—MLS Participants, acting as agents or brokers of sellers/landlords or as subagents of listing brokers, shall disclose that relationship to buyers/tenants as soon as practicable, and shall provide written confirmation of such disclosure to buyers/tenants not later than execution of any purchase or lease agreement. (Amended 1/98)

Section 16.17—MLS Participants are not precluded from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided (e.g., property management as opposed to brokerage). However, information received through a Multiple Listing Service or any other offer of cooperation may not be used to target clients of other MLS Participants to whom such offers to provide services may be made.

Section 16.18—MLS Participants, acting as subagents or buyer/tenant agents or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to subagents or buyer’s agents, or brokers, or make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation. (Amended 1/98)

Section 16.19—All dealings concerning property exclusively listed or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client’s agent or broker and not with the client, except with the consent of the client’s agent or broker or except where such dealings are initiated by the client. (Amended 1/98)

Before providing substantive services (such as writing a purchase offer or presenting a CMA) to prospective purchasers, sellers, tenants or landlords ("prospects"), MLS participants shall ask prospects whether they are a party to any exclusive representation agreement. MLS participants shall not knowingly provide substantive services concerning a prospective transaction to prospects who are parties to exclusive representation agreements, except with the consent of the prospects’ exclusive representatives or at the direction of prospects. (Adopted 1/03)

Section 16.20—Participants, users, and subscribers, prior to or after terminating their relationship with their current firm, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm. This does not preclude Participants from establishing agreements with their associated licensees governing assignability of exclusive agreements. (Adopted 1/98)

Section 16.21—These rules are not intended to prohibit ethical, albeit aggressive or innovative business practices, and do not prohibit disagreements with other MLS Participants involving commission, fees, compensation, or other forms of payment or expenses.

Section 16.22—MLS Participants shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices.

Section 16.23 – MLS Participants, users, and subscribers shall not publicize incorrect or inappropriate information on any of the individual news sections on the "Agent News" bulletin board.

Section 17 - Orientation

Orientation: Any applicant for MLS Participation and any licensee affiliated with an MLS Participant who has access to and use of MLS-generated information shall complete an orientation program of no more than eight (8) classroom hours devoted to the MLS rules and regulations and computer training related to MLS information entry and retrieval and the operation of the MLS within one hundred and twenty (120) days after access has been provided. (Amended 11/96)

Attendance at Orientation training is mandatory at the first scheduled course for all new licensees after receiving access to the MLS system. The only exception is for emergency situations that arise and postponement must be approved, in advance by the MLS Chair, Orientation Instructor, or Board President. Advance registration and payment, as established by the Board of Directors, is required. An additional fee, as established by the Board of Directors, will be charged if payment is not received by the deadline established and published by the Instructor. Licensees who have paid but do not attend and who have not been granted an excused postponement will forfeit the original registration fee and must pay a second fee for the rescheduled class. Any licensee not attending the first scheduled class after joining is not an authorized user and will be denied MLS access on the next business day following the class and will remain unauthorized until he/she attends the next scheduled class.

Any participant or subscriber providing MLS information to a anyone not an authorized user will be in violation of these Rules and Regulations and is subject to sanctions as outlined in Section 7.1 above.

Licensed or certified appraisers may be excused from attending computer training upon providing to the Board a written statement that they have read, accept, and will abide by the MLS Rules and Regulations.

Any Orientation Instructor must be considered and approved by the Board of Directors and MLS Committee with counsel from the Education Committee.

Section 18 - Internet Data Exchange (IDX)

IDX Defined: IDX affords MLS Participants the option of authorizing display of their active listings on other Participants’ Internet web sites.

Section 18.1—Authorization: Participants’ consent for display of their active listings by other Participants pursuant to these rules and regulations must be established in writing. If a Participant withholds consent on a blanket basis to permit the display of that Participant’s listings, that Participant may not download or frame the aggregated MLS data of other Participants. (Amended 8/06)

Section 18.2—Participation: Participation in IDX is available to all MLS Participants who are Realtors® who are engaged in real estate brokerage and who consent to display of their listings by other Participants. This requirement can be met by maintaining an office or Internet presence from which Participants are available to represent real estate sellers or buyers (or both).

Section 18.2.1 Participants must notify the MLS of their intention to establish an IDX site and must make their site directly accessible to the MLS for purposes of monitoring/ensuring compliance with applicable rules and policies. (Adopted 8/06)

Section 18.2.2 Participants must protect IDX information from misappropriation by employing reasonable efforts to monitor and prevent "scraping" or other unauthorized accessing, reproduction, or use of the MLS database. (Adopted 8/06)

 Section 18.2.3 Listings or property addresses of sellers who have directed their listing brokers to withhold their listing or property address from display on the Internet (including, but not limited to, publicly-accessible Web sites or VOWs) shall not be accessible via IDX sites. Notwithstanding this prohibition, listing brokers may display on their IDX sites or their other Web site(s) the listing or property address of consenting sellers. (Adopted 8/06)

Section 18.2.4 Participants may exclude listings from display on their IDX sites based only on objective criteria including, but not limited to, factors such as geography, list price, type of property, or cooperative compensation offered by listing brokers. Examples include property type ("condos," "single family detached," "multi-family," etc.), price, or location ("downtown"). (Adopted 8/06)

 Section 18.2.5 Participants must refresh all MLS downloads and refresh all MLS data at least once every seven (7) days. (Adopted 8/06)

 Section 18.2.6 Except as provided in these rules, an IDX site or a participant operating an IDX site may not distribute, provide, or make any portion of the MLS database available to any person or entity. (Adopted 8/06)

 Section 18.2.7 When displaying listing content, a participant's IDX site must clearly identify the name of the brokerage firm under which they operate in a readily visible color and typeface. (Adopted 8/06)

Section 18.3—Display: Display of listing information pursuant to IDX is subject to the following rules:

Section 18.3.1—Listings displayed pursuant to IDX shall contain only those fields of data designated by the MLS. Display of all other fields (as determined by the MLS) is prohibited.

Section 18.3.2—Participants shall not modify or manipulate information relating to other Participants’ listings. (This is not a limitation on site design but refers to changes to actual listing data.)

Section 18.3.3—All listings displayed pursuant to IDX shall identify the listing firm.

Section 18.3.4—Listing information downloaded and/or otherwise displayed pursuant to IDX shall be limited to properties listed on an exclusive right to sell basis.

Section 18.3.5—All listings displayed pursuant to IDX shall show the MLS as the source of the information.

Section 18.3.6—Participants shall indicate on their websites that IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Section 18.3.7—Participants shall not enter any information into the "remarks/features" section of the MLS that would be visible to clients/customers that would reveal the name, address, phone or other information that would identify, reveal, or otherwise relay contact information on the listing agent or office. Neither shall any private information (i.e., alarm/gate security codes, occupancy status, or other personal or private information) regarding the owners or the property or information intended for other agents/brokers (i.e., commissions information) be entered into the public view "remarks/features" section.

Section 18.3.8—The right to display other Participants’ listings pursuant to IDX shall be limited to a Participant’s office(s) holding participatory rights in this MLS.

Section 18.3.9—Listings obtained through IDX must be displayed separately from listings obtained from other sources, including information provided by other MLSs.

Section 18.4—Service Fees and Charges: Service fees and charges for participation in IDX shall be as established annually by the Board of Directors. (Adopted 11/01)

Section 18.5–IDX participation is subject to all MLS Rules and Regulations, including Section 7 - Compliance with Rules, and Section 9 - Enforcement of Rules or Disputes.

Section 19 – SentriLock Lock Box System and SentriCard KeyCards .

Section 19.1 –SentriLock Lockbox and SentriCard Agreement: The SentriLock Lock Box and SentriCard Key Cards Agreement" must be signed by the participant and the user ("Holder") before a SentriCard may be sold and shall govern the use of SentriCards in matters of dispute between the MLS and the Holder. (Adopted 11/05)

Section 19.2.1-Personal Identification Number (PIN): Holder will not allow his/her PIN to be attached to the SentriCards and will not disclose his/her PIN to a third party.

Section 19.2.2- No Loan of SentriCard: Holder shall not loan the SentriCard to any person for any period of time. The forgoing includes, but is not limited to loans to appraisers, mortgage and utility agents, builders, other brokers and salespersons, prospective purchasers or sellers. The only exception shall be that a Participant or branch office manager may purchase an Office SentriCard to be issued on a temporary basis to a SentriCard holder in the same office in the event his or her SentriCard becomes non-functional outside normal business hours or under circumstances where a replacement SentriCard is not reasonably available from the MLS. It shall be the responsibility of the Participant or branch manager to advise the MLS in writing that the Office SentriCard has been issued, to whom, and the date and time of issuance within forty-eight (48) hours. It shall also b the responsibility of the Participant or branch office manager to advise the MLS in writing within forty-eight (48) hours after the Office SentriCard has been returned to the Participant or branch office manager.

Section 19.3 – Loss of SentriCard: In the event a SentriCard is lost, stolen, or otherwise unaccounted for. Holder shall notify the MLS immediately by telephone and promptly thereafter execute a statement co-signed by the Participant and Holder as to all the facts surrounding the loss with such report placed in the files of the MLS. You lose your deposit. A new deposit must be put up and a fee established by the Board annually will be accessed for replacing your card.

Section 19.4 – Card Readers: The card reader can be purchased by the Broker at a fee established by the Board annually. Each office must have there own card reader.

Section 19.5. – Number of SentriCards: No more than one (1) SentriCard shall be sold to an individual without prior approval of the MLS Committee. Such request must be in writing. However, a Participant or branch office manager may purchase an Office SentriCard to be issued on a temporary basis to the other cardholders in the same office subject to the provisions of Section 19.3.

Section 19.6. – Participant Responsible: The Participant is responsible for the proper use of SentriCards and Lockboxes under his/her jurisdiction.

Section 19.7. – Lockboxes: Lockboxes are only for use on properties listed in the MLS system. Lockboxes are NOT an invitation to show a house. One of these two classifications can be specified on the profile sheet:

a. Open Lockbox – House can be shown without getting in touch with the listing broker, but recommend register is signed at the house or call listing broker to inform of showing.

b. Closed Lockbox- Do not show house under any circumstance unless an appointment is confirmed.

Section 19.8. – MLS Subscribers Only & Licensed Affiliates: SentriCards and Lockboxes are to be used ONLY by members of the MLS and Licensed Affiliates such as, Home Inspectors and Pest Control Inspectors.

Section 19.9. – Card Audit/ Inspection: Holder shall submit the SentriCard for inspection at a reasonable time at the Board Office after receipt of written notice which may be issued periodically by the Association. The SentriCard shall be deemed unaccounted for if Holder does not demonstrate the SentriCard is within his/her physical control.

Section 19.10. –Authorization: Prior to installing or using the Lockbox on any property, Participant and Holder shall secure written authorization from the owners of such property. Extreme care shall be taken to ensure that all doors to the property and the Lockbox are locked. Participant and Holder shall include in the listing agreement, or some other agreement signed by the owner(s) of such property prior to installation or use of the SentriLock Lockbox System, a provision whereby the owner(s) acknowledge(s) the risk of using the System and release(s) the Association, the MLS, and their officers, directors, employees, independent contractors, and agents from any and all liability in connection with the System.

Section 19.11. – Failure to Comply: Failure to comply with the above regulations will make the SentriCard Holder responsible.

Section 19.12. – The Board Has Ownership: The Board has ownership to the entire SentriLock Lockbox System. The cards are owned by the board and leased to the agents. The Lockboxes are owned by the board and leased to the brokers. But, in any and all circumstance the board can recall the Cards and Lockboxes at any time. (Adopted 8/06)

Section 19.13 – Lock Box Security Requirements: Lock boxes may not be placed on a property without written authority from the seller. This authority may be established in the listing contract or in a separate document created specifically for the purpose. Inclusion in MLS compilations cannot be required as a condition of placing lock boxes on listed property. (Adopted 8/06)

Boards shall adopt written, reasonable, and appropriate rules and procedures for administrators of lock box systems which may include appropriate fines, not to exceed $5,000. (Adopted 08/06)

Section 20 - Board Materials

The check out period for materials from the Board office shall be 24 hours (or other with prior written consent). The deposit for checked out materials shall be $20.00, refundable if materials are returned within 24 hours or other specified time. A fine of $20.00/day will be assessed for anyone returning materials to the Board office past the 24-hour check out period (or other specified timeframe). The $20.00 deposit will also then be forfeited. Members shall not reproduce or distribute materials owned by the North Central MS Board of Realtors without written consent from the Board of Directors. (Adopted 01/04)