Naame v. Bradway

Gncccio, J. S. C.

Defendant Joseph E, Bradway, Jr. is president and chairman of the board of directors of Guarantee Bank, a banking corporation of the State of New Jersey (hereinafter, the bank.) Plaintiff is:a, stockholder and director of the bank.;, ..■

*500On or about July 22, 1977 plaintiff filed a complaint alleging violations of various provisions of the Banking Act of 1948, N. J. S. A. 17:9A-1 et seq. The complaint alleges that by virtue of making overdrafts on accounts maintained by him with the bank, defendant defaulted in an undisputed obligation to the bank in the years of 1974, 1975 and…