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M. B. A. F. B. FEDERAL CREDIT UNION v. CUMIS INS. SOC.

Civ. A. No. 77-2087-8.

507 F.Supp. 794 (1981)

M. B. A. F. B. FEDERAL CREDIT UNION, Plaintiff, v. CUMIS INSURANCE SOCIETY, INC., Defendant and Third Party Plaintiff, v. Jack G. MONTGOMERY, Helen R. Montgomery, Mary L. Morris and Mary F. Smith, Third Party Defendants.

United States District Court, D. South Carolina, Florence Division.

February 10, 1981.

Attorney(s) appearing for the Case

Jack T. Flom, Myrtle Beach, S. C., for plaintiff.

Robert J. Thomas, Columbia, S. C., for defendant and third party plaintiff.

E. N. Zeigler, Florence, S. C., for third party defendants.

BLATT, District Judge.

Cumis Insurance Society, Inc., insured the plaintiff under a credit union fidelity bond "[F]or direct loss of, or damage to, any property, as defined herein, caused by the fraud or dishonesty of any of the insured's employees ... or through the failure on the part of such employees ... to well and faithfully perform his [sic] duties." (emphasis added). Property is defined in the bond to include "Money ... in which the insured has a pecuniary...

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