POA going into insolvency

[cmgraves]

At the Oct POA meeting the Attorney for the POA, Cliff Brady, read the part in the DIPOA Constitution about what would happen if the POA went into insolvency.

That was very convenient for the Board of Directors to have MR. Brady, the Attorney, on hand at that meeting when the Board had to finally admit that there was not enough money left.

Just wondering why the Board was still trying to keep the club open so the snowbirds could play golf?

I asked the question of the Board, "What was the DIPOA Board of Directors legal responsibly was to keep the POA from going into insolvency". Nobody answered.

I also gave the Board of Directors the Alabama Code on "Conflict of Interest" of a Board of Directors in the State of Alabama. So far the response has been that this Board does not have to follow the Alabama code on "Conflict of Interest".

[cmgraves]

Well, I guess it has happened.

The really intellectual theory of the emails of a half full glass is now that the glass is empty.

The POA is almost out of money.

Do you think the Board is going to do a real audit to tell the members where the money went. I guess the Board does not feel that they have to account to the members about the loss of hundreds of thousands of dollars. It not their money after all. Do you think they think it was play money?

I am shocked that the Board of Directors is still more worried about the snowbirds having a place to play golf, than saving the POA property.

[veronisa]

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