Mario O. and Elsie R. Garza - Page 5

                                        - 4 -                                         
          future commissions and had certain expenses paid for by American            
          Life that amounted to almost $90,000.  When asked at trial                  
          whether he kept books or records to keep track of the advances              
          made, expenses paid, and the commissions earned, petitioner                 
          stated that he may have kept records but did not know where they            
          were at the time.                                                           
               When petitioner left American Life in 1998, his accounts               
          were terminated fully vested.  The term “fully vested” meant that           
          petitioner would continue earning commissions on all policy                 
          renewals in his accounts even if he was no longer working for               
          American Life.  During 1999, 2000, and 2001, several of                     
          petitioner’s former accounts with American Life were renewed.               
          Petitioner was entitled to commissions on these renewals.                   
          Additionally, during 1999, 2000, and 2001, petitioner was                   
          entitled to commissions from renewals on policies written by                
          agents who were subordinate to petitioner while he was employed             
          by American Life.                                                           
               During the years at issue, all commissions coming to and               
          creditable to petitioner were applied to the liquidation of                 
          petitioner’s outstanding account balances owed to American Life.            
          American Life credited to petitioner’s accounts $20,9575 of such            




               5These amounts are rounded to the whole dollar.                        





Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  Next

Last modified: May 25, 2011