Tag Archives: Financial Institution Bond

Federal Court Says Wrongdoer’s False Statement In Application Does Not Permit Carrier To Rescind Financial Institution Bond And Avoid $3 Million Loss

In a March 17, 2017 opinion, a Minnesota federal court rejected a financial institution bond carrier’s attempt to rescind the bond it issued to a credit union despite the credit union’s manager making a false statement in the bond application that she had no knowledge of any act which might give rise to a claim, … Continue Reading
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