United Fire & Casualty Co. v. Acker

LAVORATO, Justice.

In this declaratory judgment action, we are asked to define the scope of our retail motor vehicle surety bond statute, Iowa Code section 322.4(7) (1991). We must decide whether the “any person” language in this section indemnifies a motor vehicle dealer who purchases at wholesale from another dealer and then suffers a loss. The district court concluded only consumers are indemnified under the statute. The court then granted summary judgment to the surety. The surety had issued the bond to the defaulting dealer; subsequently the surety brought this action against the…