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Old 02-18-2010, 08:08 AM   #9
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Join Date: 04-14-07
Location: Lakeland Florida

Lula MS initially submitted paperwork on time (91 days) and they did sumbit all paperwork for a standard sanctioning package including a check for the sanctioning fee. At least that's my understanding. Because of changes to Hot Springs payouts last year the BOD also required a Letter of Credit not the standard payment guarantee letter from this organizer. Apparently there was some confusion about communications between the KCBS office (not the BOD) and the organizer. As a result the letter of credit was not included in the package. That's why the vote to not sanction was taken and passed at the Feb BOD meeting. It's all about the guarantee.

The motion to sanction at the special BOD meeting included a clause that said the organizer has 72 hours from the vote to provide said letter of credit. After the meeting it is my understanding that Ron who was on the call said it would be in the KCBS office this morning by around 9 am.

This was never about the 90 day rule despite what people try to do to make it so.

The vote to sanction Lula was 11-0.
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