JOHN W. PECK, Circuit Judge.
In October 1973, the Insurance Company of North America (INA) extended insurance coverage to the Desert Empire Bank (DEB) under "Banker's Blanket Bond No. S725542" and "Bank Employee Dishonesty Blanket Bond No. S796699." In general terms, these bonds provided coverage to DEB for any dishonest, fraudulent or criminal acts that were committed by any of the Bank's employees and that were discovered during the period of the bond coverage....
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