State v. Yoakum

The question in this case is whether a loan of money by a bank to a County School Board, of which the bank’s president and principal stockholder is a member, falls within the ban of T. C. A. secs. 12-401 and 12-402, providing:

*124“12-401. Personal interest of officers prohibited. It shall not be lawful for any officer, committeeman, director, or person whose duty it is to vote for, let ont, overlook, or in any manner to superintend, any work or any contract in which any municipal corporation, county, or the state, shall or may he interested, to be directly or indirectly interested in any such…