Mobley v. Macon National Bank

1. Where stock of a bank is pledged to a creditor as collateral security, the real owner of the stock is the pledgor, and not the pledgee. The legal title is in the pledgor, and the pledgee has merely a lien thereon, or the right, of possession until his debt is paid. See, in this connection, Park’s Code, Vol. 2, § 3532; Ullman v. Brunswick Title Co., 96 Ga. 625, 629 (24 S. E. 409). The decisions in Chatham Bank v. Brobston, 99 Ga. 801 (27 S. E. 790), and Bennett v. American Bank & Trust Co., 162 Ga. 718, 727 (134 S. E. 781),.relied on by counsel for the plaintiff in error, were based upon…