Article 26 of the Saudi Accredited Valuers Law

This article sets the powers of the general assembly of the Saudi Authority for Accredited Valuers. There are five:

1. Adopting the board of directors' annual report on the Authority's activity.
2. Approving the final accounts of the Authority.
3. Appointing the Authority's auditors and setting their fees.
4. Electing the members of the Authority's board of directors from among the accredited valuers.
5. Discussing everything on its agenda that falls within the scope of the Authority's work or interests.

What these competences indicate: the general assembly is the body through which members oversee the work of the board of directors: it elects the board, adopts its report, approves its accounts, and appoints the auditor who examines those accounts.

A condition for electing the board: board members are elected from among the accredited valuers. This text came from the amendment of paragraph 4 by Royal Decree No. (M/109) dated 22/8/1441 AH.

Relationship to other articles:

• Article 25 provides that the general assembly consists of all core members who have paid their annual subscriptions, and regulates the quorum of its meetings and its chair.
• Article 27 provides that the board of directors consists of nine accredited valuers elected by the general assembly, and sets the term of its session and its meetings.

A core member who wishes to take part in these decisions must pay their annual subscription in order to be a member of the general assembly. Anyone who objects to a decision of the assembly can consult a lawyer who specializes in administrative cases.