Terry Duane Beall and Joyce Engel Beall - Page 3

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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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Last modified: May 25, 2011