State v. Alexander

In count I of the information, the defendant, C. B. Alexander, was charged with having unlawfully loaned to himself as an officer of the American Security Bank of Vancouver, a banking corporation, the sum of $1,875 of the bank’s funds without having procured a resolution authorizing and approving such loan by a majority of the directors at a meeting at which he was not present. This count is based upon Bern. Comp. Stat., § 3259, which reads:

“No bank or trust company shall, nor shall any officer or employee thereof on behalf of such corporation, directly or indirectly, loan any sum of money to…