Lumbermens Mutual Casualty Co. v. Louisville Title Insurance

BELL, Circuit Judge:

The issue here is whether plaintiff’s liability under the real estate salesman’s bond issued by it on October 1, 1964, pursuant to the provisions of Title 46, § 311(5), Code of Alabama as amended, is a single penalty bond, or whether it is subject to several recoveries in the penal amounts of $1,000.00 each. The bond covers Frank S. Lacey, Jr., a real estate salesman. The district court concluded that it was a single penalty bond. We affirm.

The proceedings began as a bill for interpleader. 28 U.S.C.A. §§ 1335, 2361. At the time of the district court’s consideration,…