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TRL then collects payments from the individual timeshare owners, including the Robertses and Holiday Island Development Corporation, based on their proportional shares and remits those payments to HISID and the county collector. TRL also receives HISID assessments for each timeshare unit.
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As manager, TRL receives the annual property-tax bill for the timeshare units from the county collector. Appellant TRL manages the timeshare units on behalf of all the owners of timeshare property, including the Robertses and Holiday Island Development Corporation, and represents their interests. As timeshare owners, they each received separate deeds evidencing their timeshare-ownership interests, which were then recorded in the Carroll County land records. Roberts, and Holiday Island Development Corporation are owners of timeshare interests in property located within the HISID. It also includes twenty-eight separate timeshare units, each divided into fifty-one individual fractional-ownership interests, for a total of 1428 potential timeshare interests. Holiday Island consists of, among other things, roughly 5000 platted lots. In July 1970, Carroll County formed the appellee HISID to acquire, construct, operate, and maintain public improvements within the boundaries of Holiday Island. Holiday Island is a planned community along Table Rock Lake, located in Carroll County. We agree therefore, we reverse and remand for entry of an order consistent with this opinion. Appellants appeal, arguing that the circuit court erred in interpreting the relevant statutes. The court further found that HISID's added requirements that an owner be current in his or her assessments in order to be nominated for commissioner or to receive a ballot were reasonable, related to the business of the HISID, and not invalid. Instead, the circuit court found each unit was entitled to only one vote in the election of HISID commissioners. 1998) and therefore were not entitled to receive individual notice of upcoming elections for commissioners or to receive individual ballots to vote in the election.
#TABLE ROCK LANDING ON HOLIDAY ISLAND CODE#
The circuit court found that the timeshare owners were not property owners as contemplated by Arkansas Code Annotated section 14-92-201(3)(Repl. Roberts, Holiday Island Development Corporation, and Table Rock Landing Owners Association (TRL) filed a declaratory judgment action in the Carroll County Circuit Court against the appellee Holiday Island Suburban Improvement District # 1 (HISID), seeking a determination of their rights as timeshare owners in the election of HISID commissioners.