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Legal Opinion

Boddy v. Theiling

Court of Appeals of Georgia

Decided June 21, 1973No. 48079PublishedCited by 10 opinions

1Opinion of the Court

Clark, Judge.

Does the Georgia Securities Act subject a corporation director to legal liability for sale of unlicensed stock when he takes no part in the business affairs and does not attend any meetings? Is it incumbent upon company directors who have a statutory duty to exercise the care of "ordinarily prudent men” to make inquiry concerning compliance by the company with the Georgia Securities Act? What is the meaning of the words "participated or aided” as used in Ga. L. 1957, pp. 134,161 (Code Ann. § 97-114) when applied to a company director? These questions confront us in this case of…

Also in this document: Concurrence.

2Cases cited5 opinions

  1. Hall v. Geiger-Jones Co.Supreme Court of the United States · 1917
  2. McEwen v. KellySupreme Court of Georgia · 1913
  3. Nash v. JonesSupreme Court of Georgia · 1968
  4. Woodward v. StewartSupreme Court of Georgia · 1919
  5. Brannan, Beckham & Co. v. RamsaurCourt of Appeals of Georgia · 1930

3Cited by10 opinions

  1. Naranjo v. PaullNew Mexico Court of Appeals · 1990
  2. Union Circulation Co. v. Trust Co. BankCourt of Appeals of Georgia · 1977
  3. Allen v. Smith & Medford, Inc.Court of Appeals of Georgia · 1973
  4. In Re North American Acceptance Corp. Securities CasesDistrict Court, N.D. Georgia · 1981
  5. Gilbert v. MeasonCourt of Appeals of Georgia · 1975

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