Torrance, California 90501
W. A. Carto
A special meeting was held at 1619 Cabrillo Street, Torrance, California on Monday, September 16, 1985 at 2 p.m. Mr. W. A. Carto acted as chairman of the meeting.
The Chairman announced that the legal holder and owner of all of the issued and outstanding shares of stock of the Corporation was the Legion for the Survival of Freedom, Inc., a non-profit corporation chartered in Texas doing business as the Institute for Historical Review and that he had been designated by the shareholder as its spokesman, agent and operating manager of NECA Corporation. The Chairman stated that therefore no notice or waiver of notice of the meeting was necessary, and that the meeting was duly constituted.
The Chairman announced with sorrow that the Founder of the Corporation, Miss Jean Farrel, E., died in Switzerland on August 11, 1985 at a hospital near Lausanne.
The Chairman stated that by her gift, made while she still lived, of NECA Corporation to the Legion for the Survival of Freedom, Inc. (LSF), Miss Farrel was carrying out her fondest wish: namely, that the educational work of the LSF would continue and expand in accordance with the ideals shared by Miss Farrel and the LSF.
The Chairman stated that he, as well as others connected with LSF, had had long discussions with the Founder in which she had made her motives and her beliefs very clear, and that she felt that only LSF, through the Institute for Historical Review, could surmount the obstacles placed in the path of those who sought historical and philosophical truth.
The Chairman said that the Founder was intensely aware that the search for world peace and the avoidance of nuclear war is based on knowledge of the real causes of war, and this knowledge is often hidden and difficult to discover. Then, once it is known, it is just as difficult to propagate because of the prejudices and hatreds of the ill-informed.
The Founder agreed with LSF that the greatest political philosopher the West or the world had ever produced was Thomas Jefferson, and she was aware that the work of LSF was based on his teachings.
The Founder had been explicit in her intention of how the assets and income of NECA Corporation were to be used and this is attested to by copious oral and written records. She may rest easy, said the Chairman, that her directives and wishes will be completely respected and, if necessary, the Corporation’s assets will be strongly defended if hostile parties attempt to raid them.
The ownership of NECA was transferred to LSF during the Founder’s lifetime although she retained operating control to assure herself of income. At the moment of her death, control as well as ownership was to automatically pass to LSF.
The Chairman noted that the Corporation is in no way part of the estate of the Founder, a fact made clear by the lack of mention of NECA in the Founder’s will. Miss Farrel had intended that NECA should in no way be hindered in its work by probate or litigation after her death. It was unfortunate, he said, that the files of the Corporation, being in her apartment, by Swiss law have been temporarily sealed. This will delay securing complete control of all corporate assets.
The Chairman made the following motion, which was duly seconded and carried:
RESOLVED, that in accordance with the provisions of Section 6.3.1 of the Liberian Business Corporation Act of 1961 and the Articles of Incorporation of the Corporation, Mr. W. A. Carto be, and he hereby is, elected as Director of the Corporation to replace the Corporation’s Founder.
There being no further business the meeting was adjourned.
[signed] Willis Carto
Chairman of the Meeting