October 13, 2023:
The Board of Directors has been consulting with the Association's legal counsel with regard to the Association's Bylaws. We believe that the current and former Boards of Directors have made Bylaws amendments in good faith based on the provisions of the Bylaws. However, we have come to understand that previous bylaws may not have been adopted in compliance with Wyoming law.
As a result of these concerns, and on the advice of Counsel, the Board has decided that the best path forward is for Counsel to draft new Bylaws in full consultation with our community and that the Board submit those Bylaws to all owners for their approval--in full compliance with Wyoming statutes.
To allow time for these actions to fulfill the fiduciary responsibilities of the Board of Directors to resolve these legal concerns, the Annual Meeting is being postponed. The following general schedule will be followed:
- Mid-October, 2023: A Letter will be mailed to all owners that includes the above explanation and an invitation to provide feedback from all owners regarding what our Bylaws should or should not include and emphasizing that ALL owner feedback will be taken into account.
- Mid-November, 2023: The Association's lawyers will provide a first draft of the proposed Bylaws. They will draft Bylaws which take into account the feedback received from all owners. A copy of the draft will be made available to all owners for further comment and feedback.
- Mid-December, 2023: Taking into account all feedback on the draft version of the Bylaws, the Association's lawyers will edit the Bylaws and provide a final draft of the proposed Bylaws to the Board. The final draft will be included with the notice of the Annual Meeting to be held in mid-January. The proxy forms sent out for the Annual Meeting will include the ability for owners to vote for or against the Bylaws submitted for their approval, should they be unable to attend the Annual Meeting in person to vote.
- Mid-January, 2024: The Annual Meeting will be held where the final draft of the Bylaws will be voted upon and the Board of Directors elections will take place.
The Board recognizes that many owners have been upset by some of the actions of the current and former Boards of Directors. It is the current Board's desire to put things right by working directly with the community and assuring that the Association's legal counsel agrees with all actions taken in the approval of Bylaws, which will have been fully vetted by the community and fully documented as legally adopted in full compliance with Wyoming statutes. This will resolve any lingering concerns about the legitimacy of our Bylaws and the way in which the Board of Directors acts on behalf of the members of the Association.
It is our sincere hope that our community will come together for the path forward.
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NOTE: This notice was reviewed by the Association's Counsel prior to sending/posting and all advice from the Association's Counsel was followed.