Court Opinion

ID: 9664413
Source: CourtListenerOpinion
Date Created: 2023-08-24 00:18:46.586874+00
Date Added: 2024-06-11T18:15:06.196091
License: Public Domain

FORSBERG, Judge,
(dissenting):
I respectfully dissent. I believe MCA was “collecting or securing” premiums, within the meaning of Minn.Stat. § 72A.03 (1986), when it executed and deposited drafts from Tifco’s account into its own account. I agree with the majority that there may have been two separate transactions: the first involving the financing activities between MCA and Tifco, and the second involving the collection of premiums between MCA and LUA. That first transaction, however, only involved MCA’s activities in quoting, typing, and processing premium finance agreements, as set forth in the “Memorandum of Understanding.” There is no evidence to suggest an agency relationship existed between Tifco and MCA with respect to MCA’s collection of the premiums.
LUA was fully aware the premiums were being financed through Tifco. Under section 72A.03, MCA is deemed to be LUA’s agent. Payment of the premiums to MCA thus constituted payment to its principal, LUA. LUA cannot assert it has not been paid and seek recovery of its loss from Tifco.
For these reasons, I would affirm the trial court’s grant of summary judgment to Tifco.