State Ex Rel. Dyer v. Francis

This is an action on a statutory bond required by the state corporation commissioner of a broker when licensed to deal in stocks, bonds, and other securities. From a judgment on the pleadings in favor of defendants the plaintiff appeals.

The bond, wherein Glenn S. Francis was named as principal and the Commercial Casualty Insurance Company as surety, was executed on June 18, 1929, in the sum of $5,000. The bond, so far as material herein, is as follows:

“The conditions of this obligation are such, that Whereas, the above bounden principal has applied to the Corporation Commissioner of the State…