Peoples Bank v. Southern Investment Co.

1. The petition sets forth a cause of action by minority stockholders against a bank incorporated under the laws of Georgia, and the directors of said bank, complaining of acts of said bank and said directors in illegally lending money and allowing overdrafts. Civil Code (1910), § 2224; Ga. Laws 1919, p. 216, §§ 19, 22, 8 Park’s Code Supp. §§ 2281 (s), 2281 (v); Weslosky v. Quarterman, 123 Ga. 312 (51 S. E. 426). Compare Bush v. Bonner, 156 Ga. 143(2) (118 S. E. 658); Albright v. Fulton County Home Builders, 151 Ga. 485 (107 S. E. 335), where it was held that the allegations were insufficient…