Anchor Casualty Co. v. Commissioner of Securities

Loevinger, Justice.

This is a declaratory judgment action to determine the scope of a bond.

Plaintiff, a paid corporate surety, issued a series of bonds for one Drew Forsman pursuant to Minn. St. 82.03, subd. 3, 1 a provision of the real estate brokers’ licensing act. Subsequently, the private defendants sued to recover losses resulting from alleged fraud of Fors-man in real estate transactions. Plaintiff then brought this action to determine the extent of its liability upon the bonds for claims against Forsman, alleging that the commissioner of securities was the only party entitled to enforce…