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Iran 7/21/1960 Germany Passes the "Volkswagen Law" The German government passed the "Law Concerning the Transfer of the Share Rights in Volkswagenwerk Limited Liability Company into Private Hands." Also known as the "Volkswagen Law," this transfered control of the company that was founded in 1937 and originally under Adolf Hitler’s National Socialist (Nazi) Party to a joint stock corporation. It also limited the number of shares anyone could own to 20%, protecting it from hostile takeovers. American President Dwight D Eisenhower (1/20/1953-1/20/1961) Argentine President Arturo Frondizi (5/1/1958-3/29/1962) Australian Prime Minister Robert Menzies (12/19/1949-1/26/1966) Austrian President Adolf Schärf (5/22/1957-2/28/1965) Bahamian Chief Minister Roland Symonette (1/1/1955-1/7/1964) Belgian Prime Minister Gaston Eyskens (6/26/1958-4/25/1961) Brazilian President Juscelino Kubitschek (1/31/1956-1/30/1961) British Prime Minister Harold Macmillan (1/10/1957-10/18/1963) Canadian Prime Minister John Diefenbaker (6/21/1957-4/22/1963) East German President Wilhelm Pieck (10/11/1949-9/7/1960) German President Heinrich Lübke (9/13/1959-6/30/1969) Japanese Prime Minister Nobusuke Kishi (2/25/1957-7/19/1960)