Gifford Construction Company was a closely held, family-owned company which had been incorporated in 1910. The corporate records reveal that minutes of the board of directors meetings have not been recorded since 1958. Petitioner, George Gifford, became a board member and treasurer of the company in 1951. In 1977, when petitioner's father could no longer continue as president, the board members, consisting of petitioner, his father and...
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