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FOUTS v. MARYLAND CASUALTY CO.

No. 2775.

30 F.2d 357 (1929)

FOUTS v. MARYLAND CASUALTY CO.

Circuit Court of Appeals, Fourth Circuit.

January 14, 1929.

Attorney(s) appearing for the Case

John L. Rendleman and Hayden Clement, both of Salisbury, N. C., for appellant.

James S. Manning, of Raleigh, N. C., and Walter L. Clark, of Baltimore, Md. (Roszel C. Thomsen, of Baltimore, Md., on the brief), for appellee.

F. G. Awalt and George P. Barse, both of Washington, D. C., for Comptroller of the Currency, amici curiæ.

Before WADDILL and NORTHCOTT, Circuit Judges, and COLEMAN, District Judge.

NORTHCOTT, Circuit Judge.

The appellant, Fouts, was appointed receiver of People's National Bank of Salisbury, N. C. The appellee brought this action against the receiver, to compel the allowance and payment of dividends on its claim upon an indemnity agreement, executed by the bank. The agreement was contained in the bank's application for a bond, by which the bank, as principal, and the appellee, as surety, undertook that the official deposits of the state treasurer...

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