American Surety Co. of New York v. State

On the 26th day of February, 1921, the Guaranty State Bank of Troup, Tex., executed, as principal, a bond, made payable to the State Treasurer, for the sum of $90,000. The American Surety Company of New York was the only suréty on that bond. Thereafter the following written agreement was entered into:

“The State of Texas, County of Travis.

“Whereas, Guaranty State Bank of Troup, Texas, being a duly qualified and acting depository of state funds for the term ending March 1, 1923, under the laws of the state of Texas, and being now custodian of $44,905.41 of such funds, drawing interest at the…