Unsupervised actions of the bank president

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Reference no: EM1385347

Q. Tim Rodale, one of the directors of First National Bank, fails to attend any board of directors' meetings in five and a half years, never inspects any of the bank's books or records and generally neglects to supervise the efforts of the bank president and the loan committee. Meanwhile, the bank president makes various improper loans and permits large overdrafts. Can Rodale be held liable to the bank for losses resulting from the unsupervised actions of the bank president and the loan committee? Explain.

Reference no: EM1385347

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