Stjernholm v. Life Insurance Co. of North America

Opinion by

Judge PIERCE.

Defendants, Life Insurance Company of North America (LINA) and Investors Life Insurance Company of North America (Investors), appeal summary a judgment entered in favor of third-party defendant Colorado National Bank of Denver (CNB), and cross-claim defendant, Minnequa Bank of Pueblo (Minnequa). We reverse.

This matter arises from the payment in 1978 and 1979 of two checks totalling $30,-000 drawn on the Minnequa account of Thomas Stjernholm which were payable to LINA. The checks were given to an agent of LINA in consideration for a single premium annuity. The agent…