Cole v. Farmers Bank & Trust Co.

The defendants base their objection to the order of Judge Phillips upon two grounds: first, that the statute, O. S., 1146, authorizing compulsory audit of the books of a private corporation, does not apply to banks, and, second, that the plaintiffs are bound by the ruling of Judge Pless denying their previous motion for an audit at the expense of the bank.

Neither of these objections can be sustained. The statute is primarily concerned with- the protection of the rights of minority stockholders, and has reference to private corporations as distinguished from municipal, public, or quasi public…