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  1. Home
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Notice of Disposition of Collateral

Notice of Disposition of Collateral TO any and All Persons or Entities Claiming to Have Any Right, Title or Interest in and to all (100%) of the membership interest owned by Brian Michael Cronin (the "Collateral Owner") in Bellegrass, LLC, a Mississippi limited liability company, which is subject to a certain Commercial Security Agreement dated September 25, 2024 (the "Security Agreement") executed by the Collateral Owner in favor of The Citizens National Bank of Meridian ("CNB"), and a certain UCC Financing Statement filed of record in the Mississippi Secretary of State's Office on October 1, 2024 as File Number 20244433955A (the "Financing Statement"): PLEASE TAKE NOTICE that CNB, the beneficiary and secured party, will offer for sale at public outcry to the highest and best eligible bidder, all of the Collateral Owner's right, title, and interest in and to all (100%) of the membership interest in Bellegrass, LLC (the "Collateral"). Date and Location of Sale: The public sale will be held on Friday, August 14, 2026, within legal hours (between 11:00 a.m. and 4:00 p.m.) at the East door of the Lamar County Courthouse located at 403 Main Street, in the City of Purvis, County of Lamar, State of Mississippi. Important Securities Law Limitations and Bidding Procedures: The Collateral is being sold as an unregistered security pursuant to the exemption from registration provided by Rule 506(c) of Regulation D under the Securities Act of 1933. Accordingly, the sale is subject to the following strict conditions and bidding procedures: (1) Single Block Sale: The Collateral will be sold only as a single block to a single purchaser and will not be split up or broken down. (2) Accredited Investors Only: Bids will only be accepted from prospective purchasers who qualify as "accredited investors" as defined in Rule 501(a) of Regulation D. (3) Mandatory Verification Prior to Sale: Bidders may not self-certify their accredited status. To be eligible to bid, prospective purchasers must submit objective documentary proof of their accredited investor status (such as recent tax returns, W-2s, brokerage statements, or confirmation letters from licensed professionals). (4) Submission Deadline: Proof of accredited status must be submitted to CNB's legal counsel, Christopher H. Meredith; Copeland, Cook, Taylor & Bush, P.A.; P.O. Box 6020; Ridgeland, MS 39158, and must be received at least ten (10) days prior to the date of the sale. (5) Access to Information (Data Room): Upon confirmation of a prospective bidder's eligibility as a verified accredited investor, CNB's counsel will provide the bidder with a secure data-room link containing an information packet regarding the LLC, its assets, liabilities, and operations. (6) Terms of Sale: The winning bidder will be required to pay the full bid amount in cash or certified funds at the time of the sale. CNB reserves the right to bid at the sale and may credit bid all or any portion of its secured outstanding indebtedness. (7) Investment Intent and Transfer Restrictions: The winning bidder will be required to execute an investment representation letter at the time of sale, confirming that the Collateral is being acquired for the purchaser's own account with investment intent, and not with a view toward the resale or distribution of such securities. The Collateral will be subject to transfer restrictions prohibiting sale or transfer without registration or a valid exemption. CNB will convey only such title in the Collateral as may be conveyed by public sale under the terms of the Security Agreement, the Financing Statement, and applicable state and federal law. Prepared by: Christopher H. Meredith, MSB No. 103656, Copeland, Cook, Taylor & Bush, P.A., 1076 Highland Colony Parkway, 600 Concourse, Suite 200, Ridgeland, MS 39157, (601) 856-7200 July 22, 29, August 5, 12 2026 LMSS0559224
Post Date: 07/22 12:00 AM
Refcode: #LMSS0559224 
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