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IOWA STATE COMMERCE COM'N v. IGF INS. CO.

No. 66218.

309 N.W.2d 445 (1981)

IOWA STATE COMMERCE COMMISSION, Appellee, v. IGF INSURANCE CO., Appellant, David A. Erickson, Trustee, Intervenor.

Supreme Court of Iowa.

August 26, 1981.

Attorney(s) appearing for the Case

Larry Seckington and Pamela D. Griebel of Scalise, Scism, Gentry, Brick & Brick, Des Moines, for appellant.

Daniel J. Fay and Alice J. Hyde, Asst. Commerce Counsel, Des Moines, for appellee.

Gibson C. Holliday of Wasker, Sullivan & Ward, Des Moines, for intervenor.

Considered by REYNOLDSON, C. J., and UHLENHOPP, McGIVERIN, LARSON, and SCHULTZ, JJ.

McGIVERIN, Justice.

IGF Insurance Company appeals from a trial court judgment requiring it to turn over the proceeds of statutory grain dealer's and warehousemen's bonds to the Iowa State Commerce Commission. The court also ruled that the Commission could then turn the proceeds over to a trustee in bankruptcy for distribution to proper claimants. If the parties handled the funds this way, the court held IGF and the Commission would fulfill their obligations to claimants...

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