Ralph Mann, Glen Ivy Resorts Founder, Quits

Ralph Mann, founder of Glen Ivy Resorts, has resigned as president and chief executive of the controversial time-share firm’s parent, Glen Ivy Holdings Inc.

Mann’s resignation last week came just days before the company--already operating under a Dec. 30 court injunction--was slapped with a new state order barring it from selling time-share interests at its Lake Tahoe resort until it clears about $1 million in notes and mortgages on the properties.

On Jan. 9, the company sold 102 time shares without freeing the properties of certain encumbrances, according to Robert McCabe, manager of the state Real Estate Department’s northern region enforcement section.

Basically, he said, the people purchasing time-share interests in the 15 condominium units variously marketed as Glen Ivy’s Tahoe Sands and Golden Sands resorts “didn’t get title free and clear.”

The shares sold for $8,000 to $10,000 each; Glen Ivy plans ultimately to sell as many as 765 weeks of time sharing in the 15 units.

A spokesman for Glen Ivy said the company expects to complete the proper paperwork, clear the titles and come into full compliance with state regulations within 60 days.

Mann reportedly stepped down as part of a negotiated settlement with state regulators investigating reports of marketing irregularities at the nation’s largest time share operator. A new chief executive has not been selected.

The one-time brick mason, who started Glen Ivy in 1975 with a single recreational vehicle park in Corona, remains chairman of the holding company’s board of directors. And Mann still is Glen Ivy’s largest shareholder.