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GRANT v. GOSNELL

20185

266 S.C. 372 (1976)

223 S.E.2d 413

Irby T. GRANT, Respondent, v. Rufus W. GOSNELL, James H. Goodman, Marion L. Powell, Powell & Poston, Attorneys at Law, A. Gilford Trapp, Walker Padgett, Horace Meetze, E.B. Garrington, J.M. Pendarvis, and First State National Bank, Defendants.

Supreme Court of South Carolina.

March 10, 1976.

Attorney(s) appearing for the Case

Messrs. John H. Williams of Williams & Johnson, Aiken, Wilburn Brewer, Jr., of Nexsen, Pruet, Jacobs & Pollard, and R. Bruce Shaw, of Nelson, Mullins, Grier & Scarborough, Columbia, for Appellants.

Messrs. William T. Jones, of Greenwood, Billy C. Coleman, of Saluda, Joe F. Anderson, of Edgefield, and Ronald L. Motley, of Barnwell, for Respondents.

March 10, 1976.

RHODES, Justice:

This is a derivative action instituted by a stockholder of the First State National Bank (FSNB), a national banking association doing business in Aiken and Saluda Counties, based on allegations of fraud and mismanagement in connection with the operation of FSNB. Two of the ten named defendants in the complaint objected to the jurisdiction of the lower court on the ground that plaintiff...

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