NOTE: The following are guidelines for the disbursement of funds to SAAR Members with a specific need:
- For SAAR REALTORS® and Affiliates in good standing;
- Immediate family and spouses;
- Catastrophic events (described as any great and/or sudden disaster);
- Limit of $5,000 per Member (any amount requested over the $5,000 limit shall be considered by a "special meeting" called for that purpose);
- To provide assistance with:Medical costs (i.e., temporary medical payments to continue coverage while out of work);
- Medical conditions that require medical/vision/dental prosthesis that could
hinder a candidate from working with the public due to their loss;
- Transportation to take a candidate who is incapacitated to a medical treatment/ appointment;
- Providing "at-home" assistance for meals and/or periodic housekeeping during recovery period; and,
Other expenses deemed necessary.
- In the event of a candidate's death (with no death benefits), assistance with
funeral arrangements will be considered;
- Payments to be made directly to the medical facility, lender, insurance company, etc.
No payments are to be made directly to the candidate;
The "Administrative Committee" will be comprised of five SAAR Members in good standing along with the SAAR CEO, serving as an ex officio member. Term of office will be limited to no more than three consecutive two-year terms, with staggered terms. Vacancies will be by appointment of the committee subject to ratification by the SAAR Board of Directors.
Definition of the word "catastrophic”: A tragedy, disaster and/or misfortune that would prevent a family member from working or being able to support their family. It does NOT cover negligence-by-intent (i.e., drugs/alcohol/mismanagement of finances).
A minimum reserve of twenty percent (20%) of the existing fund, based on the account balance at the beginning of each calendar year, will be maintained at all times.
(Unanimously approved by the SAAR Board of Directors: 10-15-03 and with second revision by the HF Committee 11/7/07.
