Harold Floyd v. Jay County Rural Electric

This action was initiated by the plaintiff-appellee, the Jay County Rural Electric Membership Corporation, (hereinafter REMC), against the Aetna Casualty & Surety Company seeking recovery on a comprehensive dishonesty, disappearance and destruction bond for the period of time from 1948 to 1965, alleging fraudulent and dishonest acts committed by the REMCs general manager, the appellant Harold Floyd. Floyd was granted permission to intervene and filed a claim against the REMC for damages resulting from false and fraudulent representations of his dishonesty. The REMC answered in denial, and added a paragraph of complaint against Floyd. The paragraph alleged that Floyd was indebted to the REMC for funds expended by Floyd for his personal use, personal property of the REMC which Floyd had taken for his personal use, excess salary, payment of Floyds personal expenses, and for work performed by REMC employees on Floyds personal residence.