In re the Claim of Porco

Appeal by the claimant from a decision of the Unemployment Insurance Appeal Board, filed April 24, 1967, finding claimant ineligible to receive unemployment insurance benefits. Following the incorporation of Franvira Contracting Corporation, engaged in residential building and into which claimant and two associates had invested equal amounts, one third of its stock was issued to claimant. Shortly thereafter, a transfer thereof was made so that claimant had a certificate for one sixth of the stock and another certificate for the remaining sixth was issued to his wife. After making the claim…