Annual Meeting and Election Time - Please take part

Each year a meeting open to all owners is held at the resort. It is required by statute and is a very important part of the operation of the Association. While all owners are welcome a timeshare resort such as ours has a problem not found in a regular condominium. Our owners don't live on site but around the world. Plus our units don't have one owner but 51 each with a vote. (1/2 vote for every other year owners). We have a potential 8.568 full votes from our ownership.

Part of the law states that to hold a valid annual meeting 15% (1,285) of the owners must attend in person or by proxy. In the history of Cypress Pointe the best return from individual owners - the back bone of our independent resort - was about 900 proxies. Most years it has been less. Only by utilizing the proxies held by our largest owner, Sunterra Corp, were we able to hold a valid meeting and election each year.

While that may seem to be a good answer it is not the best for Association. Every one of you has a say in the operation and costs through your annual proxy ballot. The ballot decides who represents your interests on the Board of Directors while your proxy allows the business of the Association to be conducted in an open meeting. If a meeting ever occurred that Sunterra could not attend or refused to offer their proxies we would be forced to adjourn and reschedule 30 days later at a significant additional expense. If there were items that required super majority to approve we would need to get many additional proxies. By establishing an adequate annual return from all individual owners those potential problems can be minimized.

So please sign and return the proxy ballot you will be receiving soon in the mail. Even if you plan on attending the meeting returning your proxy will assure us that your vote will be counted. If you do attend after mailing your proxy you are still allowed to vote in person (your mailed proxy will not be counted in that case). And we do urge everyone who can attend to take part in this annual gathering as important information will be provided and all owner questions are welcome. Representatives from our Management and Audit firm will be available as well as the Board.

Past owners messages:

View the November 2001 Owners Message

The "Club" Myth

What if I have to sell?

Why am I asked to buy more?

The new look at Cypress Pointe