X. ARBITRATION
A. Duty to Arbitrate. It is the duty of the members of this Association (and each so agrees) to submit all controversies involving commissions, between or among them to binding arbitration by the Association, rather then to bring a suit to law. The foregoing includes controversies which arose prior to one of the parties becoming a member.
The term "commissions" as used above means commissions or fees arising from the real estate brokerage business as the same is now or in the future defined in RCW 18.85.010(1); together with interest and out-of-pocket costs or expenses related thereto. The terms shall include commissions or fees actually paid, as well as commissions or fees lost as a result of the acts of another member.
Accordingly, no members may institute legal action involving such a controversy against any other member without the prior approval of the Board of Directors.
B. Inter-Multiple Arbitration. It is also the duty of members to submit to arbitration all controversies involving commissions (as defined above), between or among them and members of other Multiple Listing Services, Boards or similar organizations which extend reciprocal privileges to members of this Association and whose arbitration procedures have been approved by the Board of Directors. In such cases, the Multiple Listing Service receiving the complaint will refer it for arbitration under the Rules of any Multiple which published the listing and in whose territory the listing was located. The Arbitration Panel shall be composed of six persons - three of whom are members of and designated by each Multiple. The Chairperson of the Panel shall be one of the six panelists and shall be designated by the Multiple conducting the arbitration.
C. Former Members - Must Still Arbitrate. In the event of the resignation or expulsion from membership of a party to a controversy, subsequent to the date on which the controversy arose or the rights of the parties became fixed, the Association shall continue to have exclusive jurisdiction to arbitrate the controversy. The decision of the Arbitration Panel shall be final and conclusive in the same manner as if resignation or expulsion had not occurred.
D. Arbitration Procedures & Rules. The Board of Directors shall adopt and, from time to time, amend rules and procedures governing arbitration.
XI. DISCIPLINARY ACTION
All violation of the Bylaws or Rules of the Association shall subject the member to Disciplinary action, in accordance with Rules Adopted and, from time to time, amended by the Board of Directors.
XII. RULES AND REGULATIONS
The Board of Directors shall, from time to time, adopt, amend, maintain and enforce Rules and Regulations relating to the conduct of the business of the Association, forms, reporting listings and sales, presentation of offers, division of commissions, advertising, and other matters related to listings processed through the Association. Such Rules and Regulations shall be binding on all members following announcement of adoption or amendment thereof.