Legal Opinion
Transamerica Insurance Co. v. Federal Deposit Insurance Corp.
Supreme Court of Minnesota
Decided September 4, 1992No. C6-90-1025PublishedCited by 5 opinions
1Opinion of the Court
WAHL, Justice.
This declaratory judgment action raises two issues: whether a bank is precluded from recovering on an employee fidelity bond for losses caused by the bank’s president who is also majority stockholder and chairman of its board of directors; and the extent to which the insured bank suffered losses compensable under the bond. Appellant Transamerica Insurance Company (Transamerica) seeks a declaration of non-liability on the bond. Respondents Federal Deposit Insurance Corporation (FDIC) as receiver for Beaver Creek State Bank (BCSB), and Myron Kruse, the former president and…
2Cases cited12 opinions
- Victoria Elevator Co. of Minneapolis v. Meriden Grain Co.Supreme Court of Minnesota · 1979
- General Finance Corporation, Bankrupt, by Ronald W. Wright, Trustee v. The Fidelity and Casualty Company of New YorkCourt of Appeals for the Eighth Circuit · 1971
- Federal Deposit Insurance Corporation v. A. W. LottCourt of Appeals for the Fifth Circuit · 1972
- Farmers & Merchants State Bank v. St. Paul Fire & Marine InsuranceSupreme Court of Minnesota · 1976
- In Re Schluter, Green & Co.Court of Appeals for the Fourth Circuit · 1938
7 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Wessin v. Archives Corp.Supreme Court of Minnesota · 1999
- Employers Reinsurance Corp. v. LandmarkNorth Dakota Supreme Court · 1996
- East Attucks Community Housing, Inc. v. Old Republic Surety Co.Missouri Court of Appeals · 2003
- Avon State Bank v. BancInsure, Inc.Court of Appeals for the Eighth Circuit · 2015
- Employers Reinsurance Corp. v. LandmarkNorth Dakota Supreme Court · 1996