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RELIANCE INSURANCE CO. v. FIRST MISSISSIPPI NAT. BANK

No. 46634.

263 So.2d 555 (1972)

RELIANCE INSURANCE CO. v. FIRST MISSISSIPPI NATIONAL BANK.

Supreme Court of Mississippi.

Rehearing Denied July 3, 1972.

Attorney(s) appearing for the Case

Cox & Dunn, Ltd., Jackson, for appellant.

Heidelberg, Sutherland & McKenzie, Hattiesburg, for appellee.

INZER, Justice:

This is an appeal by Reliance Insurance Company from a decree of the Chancery Court of Forrest County holding that the rights of appellee, First Mississippi National Bank, to the progress payments under an assignment from a contractor on a public contract were superior to the subrogation and assignment rights of the surety on a payment-performance bond.

The facts leading to this suit are that on February 15, 1967, Southern Slurry Seal, Inc...

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