Wright v. Fidelity & Deposit Co. of Maryland

BRYAN, Circuit Judge.

This was an action to collect premiums on a receiver’s bond. It was brought by the appellee surety company against appellant, who was receiver in a suit in a state court. The defense was that the court which appointed the receiver entered an order terminating the surety’s liability on the bond before any of the premiums sued for became due.

The facts are not in dispute. On January 25, 1923, appellant was appointed receiver, his appointment to take effect upon his giving bond in the sum of $500,000, conditioned “as required by law.” On the next day appellant gave bond for…