This petition is asking the Current Ocean East Board of
Directors to create a motion at the November Board meeting to amend the by-laws
to eliminate the proxy vote from all Ocean East elections and votes. This would
include as proxy any votes from unit weeks owned by a company holding more than
2 unit weeks or the resort itself. To record the motion in the November board
meeting minutes, record the discussion and then the vote (per board member) and
posting the minutes within 5 days of the meeting.
When
signing this petition, please include your unit and week after your name.
Example: Mary Smith 2005/51 - Thank you.
Background Information
Ocean
East Resort in Ormond Beach Florida is a timeshare resort that is owned by the
owners of the condo weeks, not a hospitality real estate company or a REIT and
as a result has a pride of ownership among it owners. Some of the owners
have been going there for over 30 years, something rare in the timeshare
arena.
This
unique ownership structure allows Ocean East to be guided by a board of
directors (which must be owners) elected by the owners. The premise is sound
and deserving of being the over-site of the resort. Unfortunately proxy
voting has diluted this process.
What is
proxy voting? When you have the opportunity to vote, but you don't know
the candidates and are uncomfortable voting for someone you don't know, you can
allow someone to vote for you as your proxy. You do this believing that because
they know the candidates or issue better than you, they will make a better
decision than you would have.
Conflict of Interest
Currently
the by-laws at Ocean East Resort allow for proxy voting and the
proxy votes are distributed by the current board members. This is a clear
conflict of interest as the board members deciding to whom your vote will be
cast, are actually the ones needing your vote.
Please
support this petition and the motion presented and eliminate and potential for
a conflict of interest in the management of the Ocean East Resort.
This motion is very import for the long term health and well being of Ocean East. It is the first step to creating good governance at the resort. The current system makes it too easy for a conflict of interest to arise, unintentionally or otherwise.