New Amsterdam Casualty Co. v. Albia State Bank

This action was commenced against the Albia State Bank by the New Amsterdam Casualty Company (appellant) as an assignee under a written assignment signed by Monroe County, Iowa, which county was a depositor at the defendant bank. The plaintiff surety paid the County for the defalcation and forgery of the then County Auditor, W.H. Neighbour, and on September 2, 1927, took the written assignment from Monroe County, which assignment will be presently noted. The deposit in question in the defendant bank was made by the then Treasurer of Monroe County, and consisted of school funds. The defendant…