Federal Deposit Insurance Corporation v. Skow

HUNSTEIN, Justice.

In this civil action involving alleged negligence and breach of fiduciary duty on the part of former officers and directors of a now-defunct state chartered Georgia bank, the Eleventh Circuit Court of Appeals has certified the following questions for resolution by this Court:

1. Does a bank director or officer violate the standard of care established by OCGA § 7-1-490 when he acts in good faith but fails to act with “ordinary diligence,” as that term is defined in OCGA § 51-1-2?

2. In a case like this one, applying Georgia’s business judgment rule, can the bank officer or…