Wright v. Seco Metals, Inc

Seco Metals, Inc., was incorporated as a Michigan corporation on December 10, 1964. Its articles authorized capital stock of 25,000 shares of no par common stock. The book value and the price fixed for sale was $1 per share. Maurice 0. Hample, Delores M. Hample, and Martin Goulooze were named as incorporators. Maurice Hample was elected president, Martin Goulooze was elected vice-president, and Delores Hample was elected secretary-treasurer. The Hamples sub scribed to 800 shares of stock and Goulooze subscribed to 200 shares.

Hample and Goulooze were the company’s only full time employees.…