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Jean Ann Richard. On January 7, 1987, Jean Ann Richard
transferred 600 shares back to Mr. Cordes.16 On July 25, 1988,
Jean Ann Richard transferred the 400 shares remaining in her name
to Eddy Ben Cordes. On August 8, 1991, Mr. Cordes transferred
600 shares to Eddy Ben Cordes.
C. Edmund Cordes, Inc., Stock Transfers
Edmund Cordes, Inc., initially issued 1,000 shares of stock
in January 1967--600 shares to Mr. Cordes, 200 shares to Mrs.
Cordes, and 200 shares to a John Parkinson. On February 15,
1967, Mrs. Cordes transferred 1 share to John Parkinson. On
January 8, 1971, John Parkinson transferred 201 shares and Mrs.
Cordes transferred 199 shares to Eddy Ben Cordes. On October 26,
1979, Mr. Cordes transferred 500 shares to Eddy Ben Cordes. Mr.
Cordes effected this transfer so that Eddy Ben Cordes would be in
compliance with the franchise agreement Eddy Ben Cordes had made
with Chrysler Corp. Chrysler Corp. terminated that franchise
agreement in 1988 and entered into a new franchise agreement with
Mr. Cordes. That franchise agreement required Mr. Cordes to be
the principal owner and principal operator of Edmund Cordes, Inc.
Nevertheless, on July 25, 1988, Eddy Ben Cordes transferred 900
16Mr. Cordes testified that the franchise agreement with
Jeep-Eagle/Dodge required Mr. Cordes to maintain ownership of at
least 60 percent of Eddie Cordes, Inc.’s stock. Presumably, this
transfer was made so as to comply with that franchise agreement.
However, Mr. Cordes’s testimony is irreconcilable with his
transfer in 1991 to Eddy Ben Cordes of 600 shares of stock in
Eddie Cordes, Inc.
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