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military personnel. After 1964, he continued to work in the
insurance industry for various insurance companies.
In 1971, Terry purchased an office building on Alessandro
Boulevard (Alessandro office) in Riverside. This office building
was not sold until November 22, 1991. From this office he
primarily sold insurance to members of the Non-Commissioned
Officers Association (NCOA). NCOA was affiliated with Academy
Life Insurance, Inc. (Academy). Terry, as an independent agent,
became a managing general agent on behalf of Academy in 1971.
In this position he sold life insurance to military personnel in
17 Western States.
In 1972, Terry, as the sole shareholder, organized the New
Dawn Corp. Later, the articles of incorporation were amended,
changing the name to Terry Beall, Inc. (Corporation). The
Corporation's primary business purpose was to sell life insurance
to military personnel. Petitioners were the Corporation's only
employees during 1987 and 1988. Joyce was the Corporation's
secretary. Her services included entertainment activities, such
as picking up people at airports, helping plan dinners, etc.
During the 1970's, the Corporation's business began to
expand throughout California. As its presence grew in the San
Diego area, the Corporation purchased properties known as 30 The
Point and 20 The Point. The business also expanded outside
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