Aetna Casualty & Surety Co. v. Valley National Bank

JACOBSON, Presiding Judge.

The right of a bank to collect from a depositor’s insurance company for funds belonging to the depositor, and removed by thieves from the bank’s night depository facility, is presented in this appeal.

Plaintiff-appellee, The Valley National Bank of Arizona, a national banking association, as assignee of its depositor, brought an action against defendant-appellant, The Aetna Casualty & Surety Company, a Connecticut corporation seeking to enforce an insurance policy issued by the defendant insurance company to the depositor, Mrs. June Schiebel. On cross-motion for a…