HUNTSVILLE, Ala. (WHNT) - Huntsville Country Club has called members to a meeting Wednesday evening to talk about transferring ownership and a name change.
The meeting is at 6:30 p.m. at Huntsville Country Club, but the problem is, the club hasn't been able to reach all of its shareholders to notify them about it.
The club is more than $2 million in debt, and six shareholders plan to pay off said debt with Dave Tolliver as the majority shareholder. Tolliver tells WHNT News 19 if the sale goes through, he will take over day-to-day operations for the club.
The land is owned by a group of shareholders known as Mountainview Realty. Huntsville Country Club currently owns a large percentage of those shares, but needs more shareholders to vote in favor and push the sale through. Huntsville Country Club owns 214 of the 426 land shares, totaling 51 %. Roughly 70 more shares' worth of ownership is needed to vote to reach the required 66 % for a super majority.
The problem lies in the fact that many of the original shareholders died, and the club hasn't been able to reach others.
Tolliver and his group of investors are hopeful the required percentage of ownership will be present at Wednesday's meeting, but there is no way to know until that time comes. If you own or know anybody who owns stock in Mountainview Realty, you are encouraged to attend a vote at 6:00 p.m. just prior to the membership meeting.
The Huntsville Country Club is located at 2601 Oakwood Avenue, Huntsville AL 35810. The phone number is (256) 859-3000.