State v. United States Fidelity & Guaranty Co.

The major issue upon this appeal may best be stated by setting forth defendants’ contention with respect to it. It is defendants’ claim that the bonds are not only statutory but official bonds; that the terms of the *182relevant statutes are to be read into the bonds; that the statutes provide that the amount on deposit with any state depository shall not exceed its actual paid-up capital nor one-half the penalty of the bond filed by it, nor the amount prescribed by the board of deposits, if any be prescribed, except that for checking accounts deposits may be made to the amount of the paid-up…