American Surety Co. of New York v. Martinez

HIGGINS, Justice.

On, February 23, 1928, the Central Federal Fire Insurance Company of Davenport, Iowa, hereinafter called Central Company, issued a three-year fire insurance policy in the sum of $1,250, covering a dwelling owned by Alice Collins and upon which P. P. Martinez held a lien. The policy is in the usual form, with loss payable clause in favor of Martinez as his interest might appear.

The qualification bond of such company required by articles 4925, 4926, R. S., covering the year ending February 28, 1928, was executed by the American Surety Company of New York as -surety. The bond…