The Use of Bonds
The Use of Bonds
The Use of Bonds
Page 1 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
From AbundantHope.net
TRUE US HISTORY
THE USE OF BONDS
By Gene Keating
Feb 21, 2010 - 4:26:39 AM
THE USE OF BONDS
Gene Keating
BonD$ ** Jean Keating workshop very good read on the BONDS and how they work..
THE USE OF BONDS
Subject: FW: : BonD$ ** Gene Keating workshop very good read on the BONDS and how they work.. Rob Date:
Wed10 Nov 2004 22:58:03 -0800
Subject: Gene Keating workshop Date: Wed, 10 Nov 2004 13:53:52 -0700
Here is if more on prisoner bonds, and surprisingly also what happens when you write a check. Anyone reading this
will now understand why checks have to clear 'instantly' and why you don't get copies of your checks back. Stay
tuned this is tape one of four or five, Lynn
Gene Keating workshop
Statutes are bonds. Courtroom charges are civil, not criminal. Clerk's Praxis was the court of arches under the
king's bench written at the time of Edward I. It's a court of probates. John Hall wrote this book. This was used in
vice-admiralty courts in the colonies in the American Revolution and this is what caused the revolution.
Everything involves bonds. When you are arrested there are two different sets of bond. A bid bondperformance
bond is SF form 25. The payment bond is SF form 25 A. These are all put out by the GSA, under the Comptroller
of the Currency under the GAO (general accounting office). is filled out when you are arrested. US District court uses
forms used SF 273, 274, and 275. There are another set of bonds. Both are put out by the GSA. SF form 24 is the bid bond. The
SF 273, 274 and 275 are the bonds for federal level courts to use. What are they doing with these bonds? In the
court room you are being sued for debt collection. (Of your pro rata share of the co-debtor muni
offer and notice by presentment of the co-debtor munis pro rata share of the shared obligation
under the Doctrine of Contributions.) It is an action in assumpsit. The word presume comes from assumpsit.
"I agree, or I undertook to do..." Assumpsit means collection of debt.
All these bonds have a penal sum attached to it. If you go into default judgment i.e COMMERCIAL DISHONOR,
you end up in prison wondering what is going on. If you argue jurisdiction, or refuse to answer questions that the
court addresses to you, you'll be in contempt of court and go to jail. (Because the court takes silent judicial
notice that you are an ACCOUNT HOLDER and thereby, held to procedural specific performance.)
This goes back to Edward I and Clerk's Praxis. This is all civil and not criminal. It's a smoke screen to cover up what
they are doing.
They brought someone to court under an arrest bond. There was a civil suit. Clerk's Praxis is Latin for practice.
Praxis means practice. This book is an actual practice book that goes into everything Jack Smith teaches, letter
rogatories. You are held until the suit is complete, they get a default judgment for failure to pay a debt
and then you are put in prison. Attorneys are there as a smoke screen to cover up what is really done. They lead
you into default judgment by argument (dishonor), you go to prison and then the default judgment is sold.
6/22/14, 2:31 AM THE USE OF BONDS
Page 2 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
US District Court buys all the state court judgments. Type US Court in any search engine. After you get to US
Courts there are 11 circuit courts of the US listed. Click on circuit 7 and that takes you into all the list of courts. To
find Ohio/Illinois find circuit 7 is northern Illinois district courts, bankruptcy courts, etc and then you'll find a box
that says clerks office. Scroll down and you'll see administrative offices and under that you'll see financial
departments. It talks about the criminal justice acts, optional bids, it's all spelled out.
Go to List of sureties. Why would they have a list of sureties in a federal district court? When you click on this it takes
you to www.FMS.Treas.Gov. This is department of treasury. Then you will see on the left hand side of the screen,
admitted and reinsured. Under that is list of sureties. Under that is 'forms.' If you click on admitted, reinsureds,
there are over 300 insurance companies. There's a complete list. There's also a list of Surety Companies. These are
more insurance companies. Under Circular 750 the dept of treasury these insurance company have to be certified
before they can purchase the bonds. They can't put up bonds unless they are certified by the secretary of the treasury.
Next you go to "forms." Click here it goes to the Miller Backed Reinsurance; it'll list three different type of bonds.
You don't use a bid bond in district court. These bonds come out of the GSA. The 273, 274 and
275 bond forms are as follows: 273 is the reinsurance agreement with the US; 274 is the Miller Act Reinsurance
Performance Bond; 275 is your payment bond, the Miller Act Reinsurance Payment Bond.
What are they doing with these bonds? They have regulations governing these bonds.......2,000 pages governing
these bonds. Gene will sell these for $50. If you go into these regulations they tell you they're buying up commercial
items (actual words) 2.01 of these regulations. These regulations are divided into 50 parts. There 1126 pages
Volume1; 823 pages in volume 2. Commercial items are nonpersonal property. Property that is not real estate;
moveable property. Real estate is not moveable. These terms are defined in UCC.
Commercial items are commercial paper. This is the 8th edition of Black's Law which just came out. "Commercial
items: it's commercial paper; negotiable instruments; anything you put your signature on is a negotiable instrument
lex mercantoria.(?) This is used in the courtroom because everyone of us is a merchant of law. Because I use
commercial paper on a day-to-day schedule I am considered an expert. This is why they don't tell us what's going on
in the court room. Every time we put our signature on a paper, we're creating negotiable and non negotiable
instruments and that makes us experts. When I endorse it under 3-419, I'm an accommodation party or an
accommodation maker. Anyone who loans his signature to another party is an accommodation party. This is in 3-419
of the UCC.
When you loan your signature to them, they can rewrite your signature on any document they want to. The federal
courts buy up the state courts default judgments. These are civil and just being called criminal to cover up what they
are doing. If you don't pay the debt you go to prison.
CUSIP is an identification. DTC Depository Trust Corporation, and has several other monikers. Depository Trust
Clearing Corporation. 1 trillion dollars a day goes through the DTC. Govt Clearing Securities Clearing Corporation is
another day. CUSIP (committee on uniform identification processes) is a trademark of Standard and Poors and is on
bottom floor of the building at Water Street in Washington DC. CUSIP cins (cusip international numbering system)
is an international numbering system. Domestic securities have 6 digit numbers; international number (isid --
international securities identification division--plus) are a global networking system. Paine Webber, with 10,000
corporations in it, is the major stockholder of CCA, Corrections Corporation of AmericaNashville, TN. in
They have privatized the system. Ginnie Mae, Fannie Mae, HUD, are all international. Everyone is feeding off the
prison system internationally. All major corporations are feeding off the prison system including REIT (Real Estate
Investment Trust), PZNPrison Trust. All real estate companies are holding bonds and the bonds are not redeemed
and they haven't closed my account. Lehman Bros just gave $6 billion. New York City had a $3 billion deficit.
Lehman Brothers gave NYC the money to build credit facility (not prison system). Lehman Brothers is underwriting
the prison system. They buy up the bid bonds, the court judgments.
There are international treaties that are reinsurance treaties. Insurance Companies come in and act as sureties for
the bid bonds. The performance, bid, and payment bonds are all surety bonds. All bid bonds must have a surety. The
surety is guaranteeing the reinsuring of the bid bond by issuing the performance bond. They get an
underwriter (investment broker or banker) to underwrite the performance bond which reinsures the bid bond. The
underwriter takes the payment, performance and bid bonds and pools them into 'mortgage backed securities' which
6/22/14, 2:31 AM THE USE OF BONDS
Page 3 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
are called bonds and sold to TBA, The Bond Market Association, an actual corporation. After the payment bond is
issued to reinsure or underwrite the performance bond, which reinsures the bid bond, the banks convert the bonds
to investment securities. The banks and brokerage houses are selling these as investment securities. The prisoners
are funding the whole enchilada. Because you go into default judgment (DISHONOR) when you
went into the court room.
There are regulations governing these that are all in 48CFR, title 48 code of federal regulations. This is where Gene
gets all the information. It's on his $50 disc. Part
12 deals with commercial items, which are negotiable instruments, which are court judgments--the performance,
payment and bid bonds. . Any time you deal in bonds you are dealing with risk management. A re-insurer
and re-insurer means you are dealing in risk management. The re-insurer is assuming part of the risk of the bid
bond; they give him a portion of the original premium. (commission!)The original insurer gets part of the
premium of the policy of the bid bond for acting as surety for the bid bond. The underwriter guarantees
the resale of the bonds back to the public as investment securities.
To win in court you have to redeem the bond. Gene went to court and asked for his bid bond. He asked for
post settlement closure of the account. This process is hypothecation. You have to know how to hypothecate the
bond. Banks make derivatives out of your promissory notes and sell them (mortgages, credit cards etc). These prison
bonds are being monetized. They make an investment security out of it. They make a fortune off the prisoners. These
bonds go international into sinds and then into ANNA (annual numerical numbering association) in Brussels,
Belgium with unlimited capital. This is where euro, yin, sterling, everything is under the prison system. All countries
are feeding off it.
This is what was behind 911. State legislatures pass bond statutes so they can arrest people for paper terrorism.
American Legislative Exchange Committee is behind all this. Paul Warrick owns this think tank. ALEC promotes
privatization of the prison system. They go to the National Congress of Commissioners which are 72 judges and
lawyers who 'grew up' under the UCC under lex mercatoria. "The principles of the law merchant are the rules of the
decisions of all the courts." Everything is commercial. All crimes are commercial. All crimes....kidnapping, robbery,
extortion, murder. You don't close the account, you go to prison. The bond gets sold domestically and
internationally.
The bonds are sold on the NYSE. CCA (Corrections Corp of America) sells their stock and shares on the NYSE. John
D. Russell owns 64 million shares of CCA. John Ferguson, VP, owns 5 million shares. They are on the CCA board of
directors. The Dillon Corrections Corp is owned by David Dillon and merged with Trinity Ventures Investment who
then became SB Warburg. That's part of the Warburg family, located in Chicago, Illinois. They are hooked up with
the BIF bank, the bank of international settlements in Switzerland, one of the largest banks in the world. This is
why people do not win in court. Trial and pre sentencing are just a dog and pony show.
Don't use a bond, Gene says. Use a bid bond. Bid Bond uses the word principle....because Im a
natural person as defined by statute, Im the principal, the strawman/public vessel a legislative
created debtor is the surety. Put the strawman/public vessel as the surety and myself the natural person as
the principal. Next, fill out a performance bond which is a reinsurance bond that reinsures the bid bond.
On the reinsurance bond I will put myself down as the guarantor or the reinsurer. The performance
bond is 274. The payment bond underwrites the performance. I can then underwrite the bid bond
with the performance bond. That's the reinsurer. The courts do this for me, because I don't know this stuff.
And then they make the money off me. (Note here: This is where you MUST understand that to stray into any form
of controversy is a moneymaker for these guys and thats where they would prefer that you go. They still make
funding off you when you do the bonding process properly, but you dont become the surety in fact, only your public
vessel becomes the surety and you, the natural person, dont go down the prison chute by accommodation.
If you have a case pending, go into whatever district you are in. Find the court, type in the case number and it'll tell
me who has my bond. Banks are all tied into this. Every check that is endorsed, becomes a promissory note,
the bank makes a derivative out of that check. (Presumptive value into the indefinite future.) The
bank endorses the check on the back, without recourse, and monetize the assessed value of the
check by selling it as a derivative (with indefinite value into the indefinite future. And there is no
recourse against such process if you get burned). The banks are selling these checks internationally. My
$100 check is used by 20 or 30 corporations internationally. This is why we are not getting back our canceled checks.
6/22/14, 2:31 AM THE USE OF BONDS
Page 4 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
The reason is the checks are sold as promissory notes. The banks make derivatives out of them and sell them
internationally. Therefore, I am loaning money to the bank. The bank reloans it to other people. The CUSIP # is a 9
digit number. Internationally it's up into 12 digits, representing trillions of dollars.
(This is why my $87,000.00 CA check flew away into commercial La La Land. They returned an
enlarged photocopy of the check, but the check wasnt returned, though I was given an IRS Form
2287(C) Credit Posting Voucher for my trouble. Everybodys ass is covered! The banks will
monetize the $87,000.00 into at least two million $ of negotiable debt.) You keep feeding these guys
CAs and making them happy and youll never go into dishonor . . . thereby . . . no cause for them to
try to collect from you for not coming across with your pro rata share of half the contribution.
See below (2) Model and authority for Notarial protest ? gary
Idaho Statutes Idaho Statutes
TITLE 28 COMMERCIAL TRANSACTIONS CHAPTER 3 UNIFORM COMMERCIAL CODE -- NEGOTIABLE
INSTRUMENTS PART 5. PRESENTMENT, NOTICE OF DISHONOR AND PROTEST
28-3-505. EVIDENCE OF DISHONOR. (1) The following are admissible as evidence and create a presumption of
dishonor and of any notice of dishonor stated: (a) A document regular in form as provided in subsection (2) of this
section which purports to be a protest; (b) A purported stamp or writing of the drawee, payor bank or presenting
bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the
refusal are stated and the reasons are not consistent with dishonor; (c) A book or record of the drawee, payor bank or
collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made
the entry. (2) A protest is a certificate of dishonor made by a United States It may be made upon information
satisfactory to that person. The protest must identify the instrument and certify either that presentment has been
made or, if not made, the reason why it was not made, and that the instrument has been dishonored by
nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all
parties. consul or vice consul, or a notary public or other person authorized to administer oaths by the law of the place where
dishonor occurs.
The Idaho Code is made available on the Internet by the Idaho Legislature as a public service. This Internet version
of the Idaho Code may not be used for commercial purposes, nor may this database be published or repackaged for
commercial sale without express written permission.
Search the Idaho Statutes Available Reference: Search Instructions.
The Idaho Code is the property of the state of Idaho, and is copyrighted by Idaho law, I.C. 9-350. According to
Idaho law, any person who reproduces or distributes the Idaho Code for commercial purposes in violation of the
provisions of this statute shall be deemed to be an infringer of the state of Idaho's copyright.
------------------------------------------------------------
SAN LUIS OBISPO v. ASHURST:
SAN LUIS OBISPO v. ASHURST Page 1 of 4
146 Cal. App. 3d 380, *; 194 Cal. Rptr. 5, **;
1983 Cal. App. LEXIS 2081, ***
COUNTY OF SAN LUIS OBISPO, Plaintiff and Appellant, v. DELMAR ASHURST et al.,
Defendants and Respondents
Civ. No. 67587
Court of Appeal of California, Second Appellate District, Division Six
146 Cal. App. 3d 380; 194 Cal. Rptr. 5; 1983 Cal. App. LEXIS 2081
6/22/14, 2:31 AM THE USE OF BONDS
Page 5 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
July 26, 1983
SUBSEQUENT HISTORY: [***1]
As Modified August 24, 1983. Appellant's petition for a hearing by the Supreme Court was denied October 27, 1983.
Mosk, J., was of the opinion that the petition should be granted.
PRIOR HISTORY:
Superior Court of San Luis Obispo County, No. 46419, William R. Fredman, Judge.
DISPOSITION: The judgment (order) appealed from is affirmed.
CASE SUMMARY
PROCEDURAL POSTURE: Plaintiff county appealed from a minute order of the Superior
Court of San Luis Obispo County (California), which denied a writ of execution against real property allegedly owned
by defendant debtors.
OVERVIEW: Plaintiff county applied for a writ of execution against property allegedly
owned by defendant debtors. The issue was whether the assets of a corporation sole were
the personal assets of its titular head and thus subject to execution for his debts. The trial court denied the writ and
plaintiff appealed. The court affirmed and found that the property
was not subject to execution to satisfy defendants' obligations because title was held by the corporation sole. Plaintiff
did not contest the validity of the creation of the corporation sole nor was there a showing that property was
fraudulently conveyed.
OUTCOME: The court affirmed the judgment of the trial court. The court found that there was no showing that
property was fraudulently conveyed to the corporation sole, or that the corporation sole improperly used the
property against its beneficial interest. Therefore, the application for a writ of execution against the property to
satisfy the individual debts of respondents was properly denied.
CORE TERMS: parson, successor, religious organization, heir, real property, parcels of real property, writ of
execution, transferred, titular, vested, church, religious group, office
holder, common law, unincorporated, ownership, subject to execution, presiding officer,
individual debts, personal assets, holding office, incorporation, recompense, parsonage,
incumbent, freehold
LexisNexis(TM) HEADNOTES - Core Concepts - Show Concepts
COUNSEL: James B. Lindholm, Jr., County Counsel, and John Paul Daly, Deputy County
Counsel, for Plaintiff and Appellant.
Raymond L. Girard for Defendants and Respondents.
JUDGES: Opinion by Gilbert, J., with Stone, P. J., and Abbe, J., concurring.
OPINIONBY: GILBERT
OPINION: [*382] [**5] Plaintiff County of San Luis Obispo (hereafter the County)
appeals from a minute order of September 3, 1981, denying a writ of execution against real property allegedly owned
by judgment debtors Delmar and Mollie Juanita Ashurst.
6/22/14, 2:31 AM THE USE OF BONDS
Page 6 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
We conclude that the real property is not subject to execution sale to satisfy the obligations of the individual
judgment debtors since title to the parcels of real property against which the County sought execution is held not by
Delmar Ashurst or his wife, or both, but by the Office of the Presiding Apostle of Roandoak of God, a corporation
sole.
In November [***2] 1975, the County filed a complaint in municipal court against the
[**6] Ashursts for $ 2,428.02 for medical expenses incurred by Mollie Ashurst at San Luis Obispo County General
Hospital. In January 1976, the County filed an amended
complaint in which it alleged that Delmar and Mollie Ashurst were indebted to the County for medical services
valued at $ 10,605.62. Delmar Ashurst admitted by answer that the services were rendered in the amount alleged but
asserted that liability for payment rested with Medi-Cal. The matter was transferred to superior court on February 3,
1976.
On February 9, 1978, Delmar Ashurst filed articles of incorporation for "the Office of the
Presiding Apostle of Roandoak of God, a corporation sole." By deeds recorded February 10, 1978, Delmar Ashurst
transferred various parcels of real property to himself, the "Office of the Presiding Apostle of Roandoak of God, a
corporation sole." On April 13, 1978, the articles were amended to change the name of the corporation sole to simply
Roandoak of God.
On February 10, 1978, the County obtained an order for summary judgment against the
individuals Delmar and Mollie Ashurst in the amount of $ 10,605.62 with 7 [***3]
percent interest from October 4, 1975. The total judgment was $ 12,385.22 including
interest as of that date. This judgment was filed November 1, 1978, and was later vacated
for reasons not here relevant.
On May 23, 1979, the County filed an amendment to the amended complaint, increasing the amount of the damages
because Mollie Ashurst had again been a hospital patient. In this complaint the County sought an additional [*383]
$ 1,032.50 for services on August 31, 1978. The County alleged that on February 9, 1978, Delmar Ashurst transferred
all of his personal assets to himself as a corporation sole for the purpose of defrauding his creditor, the County. On
September 20, 1979, the County took the deposition of Delmar Ashurst and elicited information relating to the
conveyances of real property and the organization and operation of the corporation sole. Delmar Ashurst admitted
he is Roandoak of God.
On October 28, 1980, the court entered a money judgment in the sum of $ 11,538.12
jointly and severally against Delmar Ashurst and Mollie Juanita Ashurst pursuant to
stipulation of the parties. No further proceedings were conducted and no ruling was made
on the issue of fraud. [***4]
After judgment was entered, the County applied for a writ of execution against certain
parcels of real property allegedly owned by the Ashursts. The writ was denied by the court on September 3, 1981. The
County has appealed from the order denying the writ.
The County contends that the trial court erred in denying the writ on the basis that the title stood not in the name of
the Ashursts as individuals but in the name of Roandoak of God, a corporation sole. It appears that the County's
ground for alleging error is that despite the status of title Delmar Ashurst is the alter ego of Roandoak of God and the
assets of that corporation are in fact the assets of the presiding officer.
The issue, as defined by the trial court, "is whether the assets of a corporation sole are the
personal assets of its titular head, and thus subject to execution for his or her debts." The
6/22/14, 2:31 AM THE USE OF BONDS
Page 7 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
answer on the basis of legal authorities defining the corporation sole and its attributes must be, as the trial court
concluded, an unequivocal "no."
The corporation sole is a venerable creation of the common law of England and is well
established under common law in California. ( Santillan v. Moses (1850) 1 [***5] Cal. 92; Archbishop v. Shipman
(1889) 79 Cal. 288 [21 P. 830].) California by statute has
legitimized this tradition and regulates the formalities attendant upon the creation and
continued existence of the corporation sole. (Corp. Code, 10000 et seq.) One principal
purpose of the corporation sole is to insure the continuation of ownership of property
dedicated to the benefit of a religious organization which may be held in the name of its
titular head. Title will not then be divested or passed to that person's heirs upon his death
but will be retained for the [**7] benefit of the religious group and passed to the successors to his office.
The topic was covered by Blackstone who described the corporation sole as follows:
"Corporations sole consist of one person only and his successors, [*384] in some
particular station, who are incorporated by law, in order to give them some legal capacities and advantages,
particularly that of perpetuity, which in their natural persons they could not have had. In this sense the king is a sole
corporation; so is a bishop; so are some deans, and prebendaries, distinct from their several chapters; and so is every
parson and vicar. [***6] And the necessity, or at least use, of this institution will be very apparent, if we consider the
case of a parson of a church. At the original endowment of parish churches, the freehold of the church, the
churchyard, the parsonage house, the glebe, and the tithes of the parish, were vested in the then parson by the
bounty of the donor, as a temporal recompense to him for his spiritual care of the inhabitants, and with intent that
the same emoluments should ever afterwards continue as a recompense for the same care. But how was this to be
effected? The freehold was vested in the parson; and, if we suppose it vested in his natural capacity, on his death it
might descend to his heir, and would be liable to his debts and encumbrances: or at best, the heir might be
compellable, at some trouble and expense, to convey these rights to the succeeding incumbent. The law therefore has
wisely ordained, that the parson, quatenus (as) parson, shall never die, any more than the king; by making him and
his successors a corporation. By which means all the original rights of the parsonage are preserved entire to the
successor; for the present incumbent, and his predecessor who lived seven [***7] centuries ago, are in law one and
the same person; and what was given to the one was given to the other also." (1 Blackstone's Commentaries, ch. 18,
pp. 469-470.)
Under the authorities there is a severability of title and ownership as between the
unincorporated religious organization and the individual officeholder as the corporation sole. ( Estate of Zabriskie
(1979) 96 Cal.App.3d 571, 576 [158 Cal.Rptr. 154].) There is also a clear distinction between the corporation sole and
the individual who happens to be the current office holder. ( Archbishop v. Shipman, supra, 79 Cal. 288.)
Once title to real property vests in the office holder as corporation sole it passes not to his heirs but to the successors
to his office by operation of law. (Corp. Code, 10008.) The assets must remain with the religious organization
thenceforth (Corp. Code, 10015) and although the corporation sole may deal with the assets and contract in the
same manner as a natural person, he does so only for the purposes of the trust (Corp. Code, 10007). Since the
corporation sole is the incorporation of the titular head or presiding officer of a religious organization, it operates
without [***8] directors or members except the current holder of the office. (See, e.g., Estate of Zabriskie, supra, 96
Cal.App.3d at p. 576.)
The County does not contest the validity of the creation of the corporation sole Roandoak of God by Delmar Ashurst
and no defect therein is [*385] apparent from the record. This
being true, the possession of the real property by Delmar Ashurst is deemed to be the
6/22/14, 2:31 AM THE USE OF BONDS
Page 8 of 8 http://abundanthope.net/pages/True_US_History_108/THE-USE-OF-BONDS_printer.shtml
possession of the corporation sole. ( Archbishop v. Shipman, supra, 79 Cal. 288.) The
powers of the corporation sole to administer the property are extensive and almost
unfettered except for the qualification that the property must be used for the purposes of
the office. (Corp. Code, 10007.)
The Zabriskie decision, supra, does not support the County's position that because Delmar Ashurst controls the
corporation sole and its assets, the corporation and its property must be subject to his individual debts. In that case
Zabriskie by will left property to Roandoak of God, an unincorporated Christian association, provided it incorporate
as a nonprofit organization within 180 days. The appellate court concluded that Delmar Ashurst as head of the
religious group was a [***9] corporation sole. This did not fulfill the criteria for incorporation [**8] of the
association since the regulations pertaining to nonprofit corporations are quite separate and distinct.
Since the assets of the individual currently holding office, in this case Delmar Ashurst, are not the assets of the
corporation sole, and vice versa, each is subject to separate
accountability. The creditors of the corporation sole may not look to the assets of the
individual holding office, nor may the creditors of the individual look to the assets held by the corporation sole.
Here, there was no showing that property was fraudulently conveyed to the corporation
sole, or that the corporation sole improperly used the property against its beneficial
interest. Therefore, the application for a writ of execution against the property to satisfy the individual debts of
Delmar or Mollie Juanita Ashurst was properly denied.
The judgment (order) appealed from is affirmed.
Found at:http://www.fourwinds10.com/siterun_data/government/corporate_u_s/news.php?q=1266687937
Copyright by AbundantHope.net all rights reserved