On June 27th, 2023, the Rarity Bay CAI Board was presented with a demand request of property owners for a special meeting (i.e., special election) in accordance with TCA 48-57-102.  The Board is required to give notice of the special meeting for the purpose of a special election within 30 days of receipt of the June 27th notice.  To date, property owners representing 486 lots have signed the demand request, representing 34% of the property owners.  The Board’s response to this petition was to request “clarification” from the court on their right to conduct a Special Election even though the Board had more than 4 months prior to the notification to seek said clarification.  Originally, the court was expected to hear this request on July 27th, 2023, but was later deferred until August 7th, 2023.  No other action was taken by the Board to act within the specified 30-day time limit required by Tennessee statute.

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Under our By-Laws director’s terms expire on the date of the 2nd annual meeting after their election (that annual meeting occurred on June 29, 2023). Successor director terms serve until the next annual meeting (again, which was held on June 29, 2023).  The above applies to 4 directors and additionally there are 2 director positions that remain unfilled.  Refer to sections 8.4 and 8.5 of our By Laws respectively.  Hence the 6 open Board positions (Chad Story, Cristeen Floyd, Terry Foreman, Kris Schuh and the two open positions).