State ex rel. Healy v. Maryland Casualty Co.

In these consolidated cases plaintiff sought recovery against defendants as sureties for Pacific Securities Company on two blue sky bonds. The court, without a jury, concluded:

"(1) Plaintiff has capacity and standing to bring this action.

"(2) The complaint states facts sufficient to constitute a cause of action under the bond and an allegation of fraud is not necessary.

"(3) Neither the two-year nor the three-year statute of limitations contended by defendant applies to this cause of action and the statute of limitations had not yet run on this claim when the action was filed.

"(4) Defendant is…