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After many years not not selling them and renting them at market rate when they because unregulated, what could this mean?
We have recently had a big assessment placed on our account for 4 years.
What do you know about the sponsor and his management co? Is he looking to retire and move out of state/country? Maybe he won't make the profit he wants with the assessment in place. Why do you have a 4 year assessment? You need more information. Do you get copies of the annual financial statements? When is your next annual meeting? Have you spoken to any of the board members? Maybe there is a good, simple reason. No need to get legal unless you can't get any answers.
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somethings up. Maybe they know about a lot more assessment that will be coming up and by the illegal powers of self dealing . try to get out soon.
Also there has been a push for sponsors to sell not rent, this is what they were supposed to do from the get go. However I would make a paper trail to the BOD concerning this, questioning this. and get everything in writing, so someday if you find a real lawyer, that works for shareholders, you may have a good case. Keep the papers/letters , do it certified or find a way that it can be proved given to BOD , 5 years from now,In my case and in other cases there is a BOD members or members that are in cahoots with the managing company/ sponsor and are making deals , that are illegal, deals that are not covered by the O and D insurance, since its fraudulent, and not performing item #1/ fiduciary responsibilities to shareholders by BOD
twitter @escapefrmyonker
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Board Talk members who registered prior to March 9th, 2016 will need to reset their password.