Ex Parte Lamberth

BROWN, Justice.

The president of a bank “is but the executive agent of the board of directors to perform such duties as may be devolved upon him; he is not the corporation and can not take the place of the governing board and make contracts or incur liabilities outside of the ordinary business of the bank without special authority.” 3 R.C.L. 440, § 66; 7 Am.Juris. 178, 179, § 239.

“The authority of a president of a bank is also limited to those transactions, in connection with its affairs which are usual to such officer.” 7 Am.Juris., supra ; Annotations, 1 A.L.R. 695; 67 A.L.R. 971.

Article 1,…