ICREA is structured around a series of rights and obligations based upon ICREA Statutes & By-Laws. (to request a copy, please email email@example.com). These Statutes and By-Laws bind Member Associations and, through them, the business entities and individuals that make up their membership, to a series of “basic commitments”. These basic commitments oblige each member association:
- To maintain its own Web site, link to the ICREA Web site, consent to a ICREA site link to its site, and provide specified and accurate content to the site
- To abide by the terms membership;
- To maintain in force a code of ethics governing the conduct of its constituents and to inform its constituents that its existing code of ethics shall apply to all transnational real estate transactions with respect to which any one of its constituents is a party;
- To make current membership information available at Worldproperties.com;
- To bear financial responsibility for its own involvement and pay a proportionate share of the operational expenses.
These basic commitments, however, are just the framework for success. True success will be achieved when standards are applied to all transnational transactions undertaken by the real estate professionals represented by its member associations.
ICREA is governed by a nine-member Board, which acts as the equivalent to a Board of Directors. The Officers are the Chair, the Vice Chair and the CEO. The Board is presided over by the Chair and/or Vice Chair who shall share and cooperatively exercise the executive authority customarily and usually exercised by a President of the Board of a corporation. The Secretary/CEO is appointed by the Board.