A member shall be automatically removed from the commission and a vacancy shall be created if:
(1) A licensee of the commission ceases to be a broker or sales associate;
(2) A consumer member of the commission acquires a license or financial interest in the practice of real estate;
(3) A member enters a plea of guilty to, or has been found guilty of, a felony in which fraud is an essential element or to any crime involving moral turpitude and the time for appeal has lapsed or the judgment or conviction has been affirmed on appeal;
(4) A member ceases to be a bona fide resident of this Commonwealth;
(5) A member displays incompetence, neglect of duty, or unprofessional conduct;
(6) A member fails to adhere to a duly adopted code of ethics of the commission. Failure to adhere to this code shall be determined by official action of the commission; or
(7) A member misses three (3) consecutive meetings or misses more than twenty-five percent (25%) of the meetings held over the previous twelve (12) month period.