ACCM Code of Ethics

ACCM - Association of Cooperative and Condominium Managers

Introduction
The general membership of the Association of Cooperative and Condominium Managers believes it is necessary, appropriate and desirable to make the following statement of the principles which guide its business conduct in order to reaffirm its commitment to those principles, to emphasize to its employees the standard of conduct demanded of them and to assure that such standards are indeed observed and practiced.

The business operations and activities of the Association of Cooperative and Condominium Managers members shall be conducted with integrity and responsibility. Applicable laws and governmental regulations shall be adhered to and all Association of Cooperative and Condominium Managers members shall endeavor to fulfill their responsibilities to all their constituencies to which they reside and conduct business.

The goal of the Association of Cooperative and Condominium Managers is to establish and maintain public confidence in the honesty, integrity and professionalism of the residential property and asset management industry.

The Association of Cooperative and Condominium Managers as a professional organization of residential property managers seek to work closely with all other segments of the real estate industry to protect and enhance the interests of the public. To this end, members of the Association of Cooperative and Condominium Managers have adopted and, as a condition of membership, agree to uphold and subscribe to the Code of Professional Ethics. By doing so, the members give notice that they recognize the need to preserve and encourage fair, honest and equitable practices among all who engage in the profession of residential property management. To this end, members of the Association of Cooperative and Condominium Managers have subscribed to this professional pledge:

I pledge myself to the advancement of professional property management through the mutual efforts of members of the Association of Cooperative and Condominium Managers and by any other proper means available to me.
I pledge myself to seek and maintain an equitable, honorable, and cooperative association with fellow members of the Association of Cooperative and Condominium Managers and with all others who may become a part of my business and professional life.
I pledge myself to place honesty, integrity, and industriousness above all else; to pursue my gainful efforts with diligent study and dedication to the end that service to my clients shall always be maintained at the highest possible level.
I pledge myself to comply with the principles and declarations of the Association of Cooperative and Condominium Managers as set forth in its Charter.

Article 1. Fiduciary Obligation to Clients
A member of the Association of Cooperative and Condominium Managers shall at all times exercise loyalty to the interests of the client and shall not engage in any activity which could be reasonably construed as contrary to the best interests of the client. The Association of Cooperative and Condominium Managers shall not represent personal or business interests divergent or conflicting with those of the client, unless the client is first notified in writing of the activity or potential conflict of interest, and consents in writing to such representation. The Association of Cooperative and Condominium Managers as a fiduciary for the client shall not accept, directly or indirectly, any rebate, fee, commission, discount, or other benefit, monetary or otherwise, which has not been fully disclosed to and approved by the client. Every member of the Association of Cooperative and Condominium Managers shall maintain a Code of Ethics and Code of Business Conduct between the member first and the member firm's employees.

Article 2. Disclosure
A member of the Association of Cooperative and Condominium Managers shall not disclose to a third party any confidential or proprietary information which would be injurious or damaging to a client concerning the client's business or personal affairs without the client's prior written consent, unless, such disclosure is required or compelled by law or regulation.

Article 3. Accounting and Reporting
A member of the Association of Cooperative and Condominium Managers shall at all times keep and maintain accurate financial and business records concerning each property managed for the client, which records shall be, available for inspection by the client. A member of the Association of Cooperative and Condominium Managers shall furnish to the client at mutually agreed upon intervals, regular reports concerning the client's properties.

Article 4. Protection of Funds
A member of the Association of Cooperative and Condominium Managers shall not commingle personal funds with the funds of a client, but shall keep the client's funds in a special account in an insured financial institution or as otherwise directed in writing by the client. A member of the Association of Cooperative and Condominium Managers shall at all times exert due diligence for the maintenance and protection of the client's funds against all reasonably foreseeable contingencies and losses.

Article 5. Contract
Any written contract between a member of the Association of Cooperative and Condominium Managers and a client shall be in clear and understandable terms, and shall set forth the specific terms agreed upon between the parties, including a general description of the services to be provided by and the responsibilities of the member of the Association of Cooperative and Condominium Managers.

Article 6. Vendor Prequalifications
A member of the Association of Cooperative and Condominium Managers will establish, maintain and regularly review vendor prequalification requirements that mandate vendors to agree in writing to comply with the Association's Code of Ethics.

Article 7. Employee Education
A member of the Association of Cooperative and Condominium Managers shall establish programs for employee training and participate in Association programs of continuing education to insure that the employees of member firms are informed and kept abreast of issues and information relative to the management of residential properties.

Article 8. Managing the Property of the Client
A member of the Association of Cooperative and Condominium Managers shall not exaggerate, misrepresent or conceal material facts concerning their client's property or any related transaction. Members of the Association of Cooperative and Condominium Managers shall exercise due diligence in the maintenance and management of the client's property and shall make all reasonable efforts to protect it against all reasonably foreseeable contingencies and losses.

Article 9. Compliance with Laws and Regulations
A member of the Association of Cooperative and Condominium Managers shall at all times conduct business and personal activities with knowledge of and in compliance with applicable federal, state and local laws and regulations.

Article 10. Equal Opportunity
A member of the Association of Cooperative and Condominium Managers shall not deny equal opportunity or equal professional services to any person for reasons of race, color, creed, religion, sex, familial status, sexual orientation, national origin, age or handicap.

Article 11. Duty to Individual Unit Owners and Others
A member of the Association of Cooperative and Condominium Managers shall competently manage the property of the client with due regard for the rights, responsibilities and benefits of the individual unit owners and others lawfully on the property. A member of the Association of Cooperative and Condominium Managers shall not engage in conduct which is in conscious disregard for the safety and health of those persons lawfully on the premises of the client's property.

Article 12. Competitive Conduct and Commercial Practices
A member of the Association of Cooperative and Condominium Managers shall compete fairly in the marketplace, abstaining from unfair or restrictive practices and collusive agreements. The member shall deal fairly in the suppliers and customers. In advertising and marketing its services, the member shall avoid untruths and any form of deception or unfair advantage.

Article 13. Enforcement
Any violation by a member of the Association of Cooperative and Condominium Managers of the obligations of this Code shall be determined in accordance with and pursuant to the terms of the Charter. Disciplinary action for violation of any portion of this Code shall be carried out by the Association of Cooperative and Condominium Managers in accordance with the by-laws, rules and regulations established by the Board of Directors. The result of such disciplinary action shall be final and binding upon the affected without recourse to the Association of Cooperative and Condominium Managers, its officers, members, employees or agents.