State Bank of New London v. Western Cas. & Sur. Co.

James F. Murphy, Justice. *

Appeal from a summary judgment of the district court in favor of plaintiff and against defendant.

On August 2, 1966, an action was commenced by H. Walter Olson, West Central Realty Corporation, and Minnesota Ban-company, Inc., against Harold Cole, Henry Vegdahl, Otis Halvor-son, Dennis Benson, Richard Anderson and State Bank of New London. The individual defendants constituted the entire board of directors of the bank. H. Walter Olson was a former officer and director of the bank, his office being terminated in August 1962 and his directorship in January 1963. Olson,…