First Acceptance Corp. v. Indemnity Insurance Co. of North America

It is conceded that the bond and the contract of employment were each made under the laws of the state of Illinois and to be governed thereby.

*182Smith-Hurd 1925 Illinois Revised Statutes, ch. 38, par. 210, provided as follows:

“If any officer, clerk, agent, servant, solicitor or broker of any incorporated company, or if any clerk, agent,' servant, solicitor, broker, apprentice or officer of any person, copart-nership, society or association, receiving any money, substitute for money or thing of value whatsoever in his fiduciary capacity, shall embezzle or fraudulently convert or appropriate the…