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Can a BOD vote quitclaimed shares?

S

SLBrooklyn

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Hotel de la Monnaie
BOD has a substantial inventory of quitclaimed shares that have not been resold. Nothing in resort governance documents or state law explicitly empowers board to vote these shares. Can the BOD vote these shares?
 
tschwa2

tschwa2

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A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
I would think they could unless the offering statement says they can't. The BOD members represent the owners and the owners in general are paying for the non performing units.
 
S

SLBrooklyn

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Thank you. The documents are not a model of clarity unfortunately. I think its ambiguous in our case
 
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