Published 02.05.2023
Proptech Innovation is a business cluster, which legally is defined as an association. The association's bylaws were last updated at the membership meeting on 15.06.2022.
§ 1 Purpose
The Proptech Innovation Association aims to make the construction, real estate, and infrastructure industries smart and sustainable, by delivering concrete activities and projects that contribute to increased interaction, innovation, growth, and value creation, and reduced environmental and climate footprint. The association does not have profit as a purpose.
§ 2 Name and Municipality of the Association
The name of the association is Proptech Innovation, and its office is located in the municipality of Bergen.
§ 3 Members
Members of Proptech Innovation can include businesses (including sole proprietorships), organizations, institutions, and agencies with a connection to property technology in a broad sense.
§ 4 Membership Meeting
The association should have a membership meeting consisting of one representative from each of the association's members. The membership meeting is responsible for:
§ 5 Membership Fee and Voting Rights
The membership fee in Proptech Innovation should have several levels based on the size of the members, measured by the number of employees. The membership fee can also be differentiated by role. The levels, roles, and rates are set by the membership meeting. When voting in the membership meeting, each representative manages one vote per 10,000 kroner in paid annual membership fee from the member he or she represents, or has received proxy from.
§ 6 The Board
The administration of the association falls under the board. The board of the association should have between 7 and 21 members. The chair and members of the board are chosen by the membership meeting. The board can appoint a working committee of 3-6 members among the members of the board. The chair is one of these. The board's tasks are to:
Maintain the association's purpose, interests, and assets, including making important strategic decisions for the association's work.
Ensure that finance, asset management, and contractual obligations are subject to adequate control.
Employ or hire a CEO, as well as to determine instructions and terms of employment for this position.
Represent the members' interests.
Call a membership meeting.
Report on the association's operations and finances to the association's members at least once a year. The board holds meetings when the chair, CEO, or at least two board members want it – and at least twice a year. The board has the quorum when at least 5 members are present. Minutes are kept from the meetings. The chairman alone or two board members together commit the association. The board can grant the CEO or other senior staff procuration or another form of proxy. The working committee can perform practical tasks between the board meetings, after a detailed decision or authorization from the board.
§ 8 CEO
The association should have a CEO who is responsible for the daily management of the association's activities, including the cluster development project, in accordance with the guidelines and directives given by the board.
§ 9 Amendment of Bylaws
The membership meeting can amend the bylaws with a 2/3 majority of those present after a proposal from the board.
§ 10 Transformation/Dissolution
The membership meeting can decide to transform or dissolve the association with a 3/4 majority after a proposal from the board. In the event of dissolution, the association's net assets cannot be distributed to any of the association's members. In the event of the dissolution of the association, the association's net assets should be distributed to a charitable cause after further evaluation by the association's board.