The Peoples Bank of Biloxi has filed suit in Hancock County Chancery Court to secure a declaratory judgement that would relieve them of paying monthly dues to the Diamondhead Country Club and Property Owners Association for 388 lots it obtained via a foreclosure action on February 25, 2015 against the Purcell corporation. The bank, through the same foreclosure, also owns 55.87 acres of vacant land west of the Diamondhead commercial area and 186.16 acres of undeveloped land in Glen Eagles.
The amount of the monthly dues in question is $25,220. Peoples bank is also requesting that it be allowed to exercise all rights that Purcell enjoyed in the POA while not paying dues. Since 1987, by way of a controversial “takeover agreement” the Purcell corporation was allowed to vote by proxy on matters other than election of officers and board members.
No date has been set for a hearing on the case and no response has been filed by the Diamondhead Country Club and Property Owners Association.