NATIONAL SUR. CORP. v. CITIZENS STATE BANK

No. 81CA1074.

651 P.2d 460 (1982)

NATIONAL SURETY CORPORATION and Dayco Corporation, Plaintiffs-Appellees, v. CITIZENS STATE BANK d/b/a Citizens Bank, Defendant-Appellant.

Colorado Court of Appeals, Div. I.

September 2, 1982.


Attorney(s) appearing for the Case

Kenneth C. Groves, Denver, for plaintiffs-appellees.

Weller, Friedrich, Hickisch & Hazlitt, John R. Hickisch, Denver, for defendant-appellant.


VAN CISE, Judge.

In this action, plaintiffs alleged in their complaint that some of the employees of plaintiff Dayco Corporation (Dayco), over a period of two years, forged the name of the payee to certain checks payable to a subsidiary of Dayco and deposited those checks in the employees' personal accounts with the defendant, Citizens State Bank (the Bank). National Surety Corporation paid a portion of Dayco's loss under the terms of a fidelity bond and, therefore...

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