ARTICLE XXII – CODE OF ETHICS

A. Members should keep themselves informed as to trends affecting business opportunities.

B. Members will make a reasonable effort to protect the public and all parties to a transaction against fraud, misrepresentation, or unethical practice.

C. Members will recommend that clients and customers use attorneys and tax accountants for independent advice on transactions.

D. Members will use their best efforts to see that financial obligations and commitments of all parties to a transaction are in writing and that copies of such agreement(s) have been received by all parties.

E. Members will not receive compensation from more than one party without the full knowledge of all parties to the transaction.

F. The exclusive listing of businesses should be urged and practiced by Members.

G. Members will not serve as both principal and/or broker or appraiser of a transaction unless full disclosure is made in writing to all principals involved.

H. Members should not undertake to make business appraisals that are outside or beyond the scope of their experience without first obtaining the assistance of an authority on such types of businesses.

I. Members should seek no unfair advantage over their fellow Members and should willingly share with them the lessons of their experience and study.

J. Members will cooperate with other Members on businesses listed.

K. In the absence of a prior written agreement, fees or compensation for completing a transaction will be split on a fifty-fifty basis between Member firms, such fees or compensation to be paid promptly upon receipt of same.

L. Members will not deny equal professional services to any person(s) for reasons of race, color, religion, gender, or country of national origin.